The company announced the rebranding during Facebook Connect
Facebook CEO Mark Zuckerberg announced Thursday at his company’s Connect event that its new name will be Meta. “We are a company that builds technology to connect,” Zuckerberg said. “Together, we can finally put people at the center of our technology. And together, we can unlock a massively bigger creator economy.”
“To reflect who we are and what we hope to build,” he added. He said the name Facebook doesn’t fully encompass everything the company does now, and is still closely linked to one product. “But over time, I hope we are seen as a metaverse company.”
Zuckerberg owns the Twitter handle @meta (whose tweets are protected as of this writing) and meta.com, which now redirects to a welcome page on Facebook outlining the changes. The site previously redirected to meta.org, a biomedical research discovery tool that was a project of the Chan Zuckerberg Science Initiative. That’s part of the philanthropic arm Zuckerberg co-founded with his physician wife, Priscilla Chan, in 2015. In a Medium post on Thursday, the group says it’s sunsetting Meta.org on March 31st, 2022.
The rebrand is part of the company’s efforts to shift gears away from being known as just a social media company and focus on Zuckerberg’s plans for building the metaverse. Zuckerberg says that over the next several years, Facebook would “effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”
Zuckerberg wrote in a blog post Thursday that the company’s corporate structure would not be changing, but how it reports financial results will. “Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs” he explained. “We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Today’s announcement does not affect how we use or share data.
quoting snippets from his post, Mark say clarifies that;
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.mark zuckerberg
We’re excited to share our vision for the metaverse at Connect next week. While we continue to focus on the important issues of today, we’ll show how we’re thinking about the future of social connection – a future made by all of us. Big things are on the horizon – see you there. pic.twitter.com/q228bG0qbr— Meta (@Meta) October 21, 2021
I used to study Classics, and the word “meta” comes from the Greek word meaning “beyond”. For me, it symbolizes that there is always more to build, and there is always a next chapter to the story. Ours is a story that started in a dorm room and grew beyond anything we imagined; into a family of apps that people use to connect with one another, to find their voice, and to start businesses, communities, and movements that have changed the world.Mark Zuckerberg