Facebook is planning to change their company name

May we suggest… “Don’tsellmydata”?

In a recent report by The Verge, Facebook said that they are planning to change their name next week to reflect their services and business lines.

The upcoming name change came from Mark Zuckerberg himself, the CEO of Facebook, where he will discuss about the matter on 28th October. This name change will also reflect that Facebook is positioning itself as a technology company rather than a social media company.

In addition to their corporate structure, the company has already more than 10,000 researchers in the field of technology that would continue to build and innovate futuristic consumer hardware like AR glasses that Zuckerberg believes would soon be as common as smartphones. “We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.” Zuckerberg told The Verge.

Another reason why Facebook wanted to change its name is to remove the stigma regarding them and separate the entire company and its subsidiaries regarding media scrutiny such as data handling, security issues, the spread of misinformation and the lot.

If Facebook ever changes its name, then their entire business structure may be similar to Google wherein they kept the name “Google” for their services and products but they are actually under a holding company named “Alphabet, Inc.”

Source: The Verge