As Facebook transitions to a new identity—Meta—the most “liked” thumbs-up is changing to a pretzel or an infinity. Mark Zuckerberg, the company’s co-founder, and CEO said during the company’s Connect conference on October 28 that the renaming reflects the company’s larger objectives relating to the metaverse and away from Facebook, an identity that is tightly linked to all of its products.
“As we embark on this next chapter, I’ve thought a lot about what this means for our company and our identity… Today, we’re seen as a social media company. Facebook is one of the most used technology products in the history of the world. It’s an iconic social media brand,” Mark Zuckerberg said.
Given the firm’s family of applications, like WhatsApp and Instagram, as well as its work in virtual and augmented reality, it no longer symbolizes what the company does. “To reflect who we are and the future we hope to build, I’m proud to share that our company is now Meta,” Mark Zuckerberg announced.
This implies that Meta will now hold the Facebook, WhatsApp, and Instagram family of applications, as well as its Reality Labs, which is constructing the metaverse.
Creating a Metaverse
It was one of the most anticipated events, as Facebook was expected to reveal the company’s new name as well as spell out its vision for the metaverse it is creating. This comes at a time when the firm has been criticized for having a harmful influence on teenagers.
While many may criticize the timing of the metaverse conversation in light of the recent scandal, Mark Zuckerberg stated that he believes in “what we are developing and how technology can make life better.”
Internal papers obtained by Facebook whistleblower Frances Haugen showed the social media giant’s multiple blunders and struggles with content moderation, particularly in multilingual nations like India, which has over 340 million members.
The Meta Brand
Facebook, or Meta, as it is now known, is significantly investing in the metaverse. During this week’s earnings call, the business said that it will invest $10 billion in Reality Labs this year to help develop the metaverse. In addition, the business would spend $150 million to train artists in new ways to use the metaverse.
“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything we are doing today, let alone in the future. Over time, I hope we are seen as a metaverse company, and I want to anchor our work and our identity on what we’re building towards,” Mark Zuckerberg said.
“From now on, we will be metaverse-first, not Facebook-first. That means that over time you won’t need a Facebook account to use our other services. As our new brand starts showing up in our products, I hope people around the world come to know the Meta brand and the future we stand for,” he added.