Social media giant Facebook is preparing to rename the company to a new name next week.
The Verge website indicated that the name change, which CEO Mark Zuckerberg plans to talk about at the company’s annual Connect conference on October 28, and it may be revealed before that, aims to indicate the tech giant’s ambition to be known more than other means. Social communication and all the ills involved.
The site added that the rebranding will likely put the Facebook app as one of several products of a mother company that will oversee groups such as Instagram, WhatsApp, Oculus and others.
In July, Zuckerberg told The Verge that over the next several years, “we will effectively transition from people who see us as essentially a social media company to a metaverse.”
The rebranding could also separate the future work that Zuckerberg is focusing on from the intense scrutiny Facebook is currently under over the way its social platform operates.
“And I think it’s going to be the next big chapter for our company as well, where we’re going to double its size in this area,” Zuckerberg added.
The company earlier announced plans to create 10,000 jobs in the European Union over the next five years to help build a “virtual reality universe,” or metaverse.