Facebook is planning to change its name, report says

Facebook is planning to change its name, report says Social media giant Facebook Inc is planning to rebrand itself with a new name next week, the Verge reported on Tuesday, citing a source with direct knowledge of the matter. Gloria Tso reports. Facebook is planning to rebrand itself with a new name focused on the metaverse, the Verge reported on Tuesday, as the tech giant comes under fire from regulators around the world over its business practices.The company plans to announce the new name next week, the Verge reported, citing a source with direct knowledge of the matter. Facebook wants to be known for more than social media, according to the tech publication.Facebook does not comment on rumor or speculation, a company spokesperson said in response to a question about the potential name change.In addition to its flagship social media network, Facebook also owns Instagram and WhatsApp. A name change could position the three mega platforms under an umbrella brand, similar to the structure used by Google, which sits under parent company Alphabet.The name change may reflect Facebook’s direction. The metaverse refers to efforts to combine virtual and augmented reality technologies in a new online realm.The idea is to create…
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