Facebook is now called Meta

Mark Zuckerberg has actually pulled it off. The planned name change of the Facebook group has passed. Effective immediately, Facebook Inc. is operating under the new name Meta.

Meta: Name change of Facebook decided

Already a few days ago, Mark Zuckerberg announced that he would rename the umbrella company Facebook Inc. to better distinguish it from the social network of the same name and to better reflect the various subsidiaries, which include, for example, WhatsApp and Instagram.

During the Keynote Facebook Connect, the CEO took the opportunity to present the new name. From now on, the company will operate under the new name Meta. The Greek word means something like “next level” or “further development” – which is exactly what Zuckerberg wants to reflect with the new name.

After all, Facebook (or Meta) is now so much more than just Facebook, Zuckerberg reveals. In the future, he says, the company wants to be perceived as a metaverse company. Over the course of this decade and beyond, he said, the company wants to build and expand a far-reaching metaverse.

Meta’s plans for virtual reality

The Oculus brand is also part of the Meta Group. The company wants to focus even more on this in the future, according to the extensive founding letter. In combination with the Oculus Quest VR headsets, the company is working to create an immersive VR experience in the coming years.

Zuckerberg’s dream is a kind of modern Second Life. Virtual spaces where people can meet and spend time together thanks to VR. According to Zuckerberg, this concept should replace social networks in the long term.

“Meta will focus on bringing the metaverse to life and enabling people to connect with friends* and family, find communities and build businesses,” the Meta press release states.

The corporate structure, on the other hand, will not change, but the way financial reporting will. Starting with fourth-quarter 2021 results, Meta plans to report through two operating units: Family of Apps and Reality Labs. Likewise, trading under the new stock ticker MVRS is to commence from December 1.