Facebook Inc (FB.O) is now called Meta

CEO Mark Zuckerberg on Thursday said the social media giant is renaming its company Meta.

Facebook is changing its company name as it shifts its focus to the "metaverse". This was announced by CEO Mark Zuckerberg on Thursday (28 October 2021). The move is meant to shift its image from a social media platform to a “metaverse” company that focuses on building virtual work and social communities. During the virtual event "Connect", he said,"Meta, will bring together our apps and technologies under one new company brand. Meta’s focus will be to bring the metaverse to life and help people connect, find communities and



grow businesses."

"I've been thinking a lot about our identity as we begin this next chapter. Facebook is one of the most used products in the history of the world," Zuckerberg informed on Thursday. "It is an iconic social media brand, but increasingly it just doesn't encompass everything that we do.

"Today we're seen as a social media company," he added, "but in our DNA, we are a company that builds technology to connect people. And the metaverse is the next frontier just like social networking was when we got started." Zuckerberg, who said he loved studying classics in school, said the name was inspired by the Greek word meta, which means "beyond." "For me, it symbolizes that there is always more to build."

The company also changed its corporate logo, which featured a picture of a "thumbs up," outside of its California headquarters with one touting its new logo: a blue infinity sign.

The company has had the most dramatic public relations crises in recent memory. There were multiple hits to its reputation in the last few weeks when so many news outlets released reports about the tech giant based on leaked whistleblower documents. However, Zuckerberg has described the reports as a "coordinated effort to selectively use leaked documents to paint a false picture of our company."