Is Facebook going to change its name?

Mark Zuckerberg, CEO of Facebook plans to change the name of Facebook. He may talk about the changing of the company's name at the annual connect conference on October 28.

Although it is just a rumor, it was reported by the Verge which is a very trustworthy source. According to Verge, Facebook will be changing its name to Metaverse. However, in response to the Verge, Facebook said that it does not comment on rumors or speculation.

Metaverse is an online world where people will use different devices to communicate and move in a virtual environment, Verge said. Zuckerberg has been talking about the Metaverse since July.

Facebook is facing increasing government scrutiny over its business practices. The lawmakers of both parties have criticized the company which demonstrates the rising anger in Congress with Facebook.

The rebranding would position Facebook's social media app as one of many products under a parent company, which will also oversee groups like Instagram, WhatsApp, Oculus, and more, the Verge report added.

The step that Mark Zuckerberg may be taken to rename the company may also reflect on the creation of Metaverse. Facebook intends to connect its all three billion users through several devices and apps for which it has invested very heavily in virtual reality(VR) and augmented reality(AR). 

Also on Tuesday, in European Union, Facebook announced its plans to create more than 10,000 jobs in the next five years to help build the Metaverse.

Writer - Tanishq Aggarwal

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