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Facebook was one of the very first social networking platforms founded in 2004 by 19-year-old Mark Zuckerberg. Over the years, the company has evolved, as most do, and decided it is time for a rebrand that reflects how it is far more than just a social media platform.
The Verge reported that the company is planning to change the name of its holding company at its annual Connect conference event next week on October 28. However, there is a possibility of it being announced even sooner.
The rebrand is likely to place the Facebook app under the umbrella of a parent company along with many other apps like Instagram and WhatsApp.
This plan isn’t entirely out of the ordinary. Google became a subsidiary of a holding company called Alphabet around 2015 to signify its expansion to other areas in tech.
Zuckerberg is determined for his company to be known as a metaverse (fictional universe) company, which makes sense considering the variety of consumer hardware products the company is working on, such as AR glasses.
According to The Verge’s report, the name could be something like Horizon, which is the same word featured in a few of the companies developing virtual reality products like the social VR platform Horizon Worlds and the virtual-reality meeting service known as Horizon Workrooms.
The company is evidently doing all it takes to expand into the metaverse, considering it recently created a metaverse team and promoted the head of AR and VR, Andrew Bosworth, to chief technology officer.
On Facebook’s journey to reaching new heights in the tech world, it is certainly possible that sometime in the future, the company could come out with smartphones or even self-driving cars, for that matter. That is, if it ever gets out of the legal scrutiny it’s currently under.