{Disarmed} Facebook is planning to rename, new name from next week

According to reports, Facebook wants to give itself a new name. The plans for this could be presented at the company's upcoming Connect conference on October 28th. According to a report by The Verge, the plan to rename Facebook is in line with the company's plans to bring its Metaverse - a virtual world created by computers and related to the Internet itself - clear to the fore.

After the renaming is complete, Facebook CEO Mark Zuckerberg will likely continue to lead the fortunes of his gigantic tech conglomerate. The name change seems to be going on in a similar way to Google and Alphabet, where the latter was founded as the parent company and Google, together with a number of other - sometimes experimental - companies formed the corporate structure of the entire group. Following a similar scheme, Facebook, Instagram, Oculus and WhatsApp will form some of the most important sub-companies of the Facebook group in this umbrella structure.

This move will likely help Zuckerberg focus entirely on working on the Metaverse, which has been in the headlines for some time - for better or for worse. Earlier this week, Zuckerberg's Facebook also announced that it plans to hire 10,000 skilled workers from across the European Union over the next five years to work on Horizon Worlds, a 3D virtual world. The move comes amid Facebook's rather tumultuous relationship with EU technology regulators, which have repeatedly criticized the company for its power and Zuckerberg for its stranglehold, and raised the question of whether the company should be broken up for its own good.

While this renaming doesn't really amount to "breaking up" the company, it does signal the company's intention to break away from the earlier mainstream social media services. A formal announcement of the creation of a new umbrella brand under which Facebook and its related services will operate is expected to be made earlier than October 28th, with further details to follow at the Connect conference.

Sources):
The Verge

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