HIGHLIGHTS:

• The Facebook parent company finally rebrand itself as Meta.
• Now, Facebook is no longer be a Social media giant but a part of Meta
• Facebook wants to shift its gears towards futuristic technology and products and wishes to be known as a technology company.

On Thursday, the social networking giant takes an unmistakable step de-emphasizing Facebook’s name and rebranding itself as Meta. With the new name, it gets its new corporate logo designed like an infinity-shaped symbol that was slightly askew.

Facebook and its other apps, such as Instagram and WhatsApp, will remain but under the Meta umbrella.

Speaking at the Facebook Connect conference, chief executive Mark Zuckerberg, said:

The company will rebrand itself to represent the fact that it’s now a “metaverse company”. Now, the company will now be call as Meta.

The Company also announces that it will change its stock ticker from FB to MVRS, effective Dec. 1. Meta’s stock price closed up on Thursday.

Zuckerberg in his letter reveals that the term “Meta” has been derived from the Greek word that means “beyond”. He says that it symbolizes that there is always more to build. “Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people.

Keypoints of the Announcement:

• Zuckerberg plans to bring apps and technologies under one new company brand.
• Only the name of the parent company has changed. The names of other Facebook-owned social media apps like WhatsApp, Instagram remain unaffected by the rebranding.
• Zuckerberg wants the company to venture into virtual reality products and that he believes would happen best under Meta. he already creates Oculus and other video reality products.
• He defines that the quality of the metaverse will be a feeling of presence. Users will be able to do almost anything like get together with friends and family, work, learn, play, shop, create.
• Zuckerberg has said that the company will focus on the privacy and security of the new platform, from day one. It is important to note that the name change would not affect how Facebook and its other apps function. This means that you can still use Facebook, WhatsApp, and Instagram the way you used to.
• So from now on, the company will be Metaverse first and not Facebook first. Now, Facebook is not a social media company anymore. As Facebook is now only a social media app that is a part of meta.

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