Zuckerberg set to rebrand Facebook
source link: https://www.telegraph.co.uk/technology/2021/10/20/facebook-plans-change-name-major-rebrand/
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Zuckerberg set to rebrand Facebook
Makeover could create a new parent company but retain Facebook name for its social media app alongside Instagram and WhatsApp
20 October 2021 • 6:19am
Mark Zuckerberg is planning to rename Facebook as his 17-year-old company grapples with a whistleblowing crisis and attempts to focus on its future products.
The social media giant is expected to rebrand the parent company, but retain the Facebook name for its online products as part of a strategy focused on upcoming technologies, technology blog The Verge reported.
The new name is being closely guarded but could be announced as soon as next week, according to the report.
It may be linked to a new Facebook product announced over the summer called Horizons. Facebook recently renamed its in-development virtual reality gaming platform from Horizon to Horizon Worlds.
Facebook is due to report its financial results on Monday. The Verge said the company could reveal its new identity in the coming days or at a conference being held on October 28.
Facebook said it did not comment on "rumour or speculation".
A rebrand would come as the company struggles to shake off a crisis after multiple leaks that revealed internal figures over the harm done to teenagers' mental health by social media and a struggle to keep younger users engaged.
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The move would echo the 2015 decision by Google to create a new parent company called Alphabet and divide its other operations between several smaller projects.
Facebook founder and chief executive Mark Zuckerberg
Credit: GETTY IMAGES
The news comes at a time when the social media giant is facing increasing US government scrutiny over its business practices.
US lawmakers have excoriated the company, illustrating the rising anger in Congress with Facebook.
The company may also seek to align its branding with the so-called Metaverse, Mr Zuckerberg’s strategy to combine upcoming technologies such as virtual reality and augmented reality with online gaming, e-commerce and digital workplaces.
The tech billionaire believes such technologies will bring people “closer” in more immersive virtual worlds.
The term, first coined in a dystopian novel some three decades ago, has been referenced by other tech firms such as Microsoft.
Last week Facebook announced plans to create 10,000 jobs in the European Union over the next five years to help build this metaverse.
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