Pascal Oparada
Social media giant, Facebook has veiled the sign outside its Silicon Valley headquarters in anticipation of a name change as part of efforts at rebranding the social media company, according to Bloomberg report cited by Forbes.
Bloomberg says Mark Zuckerberg, the founder of Facebook will announce the new name today amid intense scrutiny from regulators.
The name change will come as Facebook faces significant negative press from internal documents released by a whistleblower that have been dubbed the Facebook Papers, which have raised questions about how Facebook has handled misinformation and dangerous activities on its social media platforms.
Among the claims made in the documents are that Zuckerberg “interfered” to let public figures go around the social media platform’s rules and the company did not do enough to prevent the spread of misinformation regarding the Covid-19 pandemic, 2020 U.S. presidential election and other world events. Facebook is also up against an antitrust lawsuit from the Federal Trade Commission.
There are speculations that the social media giant will name itself in accordance with its new drive at providing AR to consumers especially its Metaverse project.
The company announced this month that it will hire about 10,000 developers across Europe to bring it Metaverse idea to life.
What Facebook’s new name will be. The Verge speculated that it may “signal the tech giant’s ambition to be known for more than social media and all the ills that entail.” The shift evokes memories of Google changing its company name to Alphabet in 2015 to reflect the technology giant’s wider business ventures.
