Mark Zuckerberg, CEO of Facebook, the world’s largest social networking site, announced on Thursday that the company will change its name to Meta, a name that he said represents a future beyond social networking. It’s a name that represents a future beyond social networking.
Facebook is currently facing one of the biggest crises in its history after former employee Frances Haugen blew the whistle on the company.
Internal documents released by Haugen alleged that the company’s senior management was aware of the harmful nature of its site.
There have been growing calls in the US for the company to be regulated.
Facebook, meanwhile, is shifting its focus to the future of the internet virtual reality metaverse.
This month, the company announced plans to hire 10,000 people in the European Union to help build the metaverse. Mr Zuckerberg has become a leading proponent of the metaverse.
Announcing the name change at the annual developer conference, Zuckerberg said: “We’ve learned a lot from struggling to deal with social issues and living under a closed platform.
And now it’s time to use everything we’ve learned to build the next chapter,” he explained.
The names of the company’s Facebook, Instagram and WhatsApp services will remain the same after the name change.
When the plan to change the company’s name was reported last week, it sparked criticism that it was aimed at distracting the public from the company’s recent scandals and controversies.