Published , by Sam Chandler
Published , by Sam Chandler
Facebook, the company known for its social media platform of the same name, is reportedly going to try and change its stripes, starting with its name. While the new name for the company is a closely guarded secret, there are some ideas floating around of what it might be.
According to an exclusive report by Alex Heath of The Verge, Facebook is planning to change its company name. This rebranding will better align the company to achieve CEO Mark Zuckerberg’s goal of becoming a “metaverse company.” Heath notes that the new name may be, “something to do with Horizon”. This is the supposed name of a Facebook-meets-Roblox platform.
News of this company name-change is coming just weeks after Facebook whistleblower Frances Haugen testified before the U.S. Senate and appeared on 60 Minutes. The company has been in a lot of hot water over recent years in relation to the United States elections, the spread of misinformation, and users’ private data. The focus on a new name couldn’t come at a better time for the company.
Facebook is also scheduled to discuss its earnings on October 25, which could be around the time we hear official news about the decision to rebrand. It should make for some interesting listening, especially considering Zuckerberg has sold over 1 million shares of the company as of June 2021.
In terms of the rebranding, it’s not unusual for a company to do this. Heath notes that Google reorganized under Alphabet, a holding company that oversees various areas in tech. With Facebook’s plans to create its own metaverse, it makes sense to have a similar setup.
We’ll be sure to update you on Facebook’s new name, as well as what’s happening around the periphery of this trillion dollar company.