SAN FRANCISCO (KRON) — Facebook may be rebranding soon, according to an anonymous source who spoke to The Verge.
A Facebook spokesperson told KRON4 they do not “comment on rumours or speculation.”
If it’s happening, the name change could be public by next week. It’s likely going to be discussed at a company conference on Oct. 28, The Verge reports.
Facebook is pouring resources to expand beyond the social media site it began as nearly two decades ago.
The annual Connect conference will feature CEO Mark Zuckerberg and others to share “how the future of augmented and virtual reality will be built by the many,” according to Connect. This includes talks about the ‘metaverse’, which is described “a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”
Zuckerberg’s investments in virtual reality and to build a ‘metaverse’ could be motivation to launch the massive undertaking under a new name, so Facebook’s reputation doesn’t cloud the new venture.
Facebook is currently under scrutiny for its handling of reports that its Instagram app is damaging to young user’s mental health. (Facebook owns the influencer hotbed that is Instagram, as well as international messaging app Whatsapp). And like other social media platforms, Facebook has also been under attack for its misinformation problem.
Already, internal structures at Facebook are changing to focus on the ‘metaverse’ – so it’s possible that a big rebrand could be coming as well.
Zuckerberg recently promoted Facebook Reality Labs lead Andrew Bosworth to chief technology officer and said a “few other groups” will join his team, which he adds is “is all foundational to our broader efforts helping to build the metaverse, and I’m excited about the future of this work under Boz’s leadership.”
Facebook also announced it’s hiring at least 10,000 workers in Europe dedicated to the years-long project, which also requires collaboration from several other companies, plus experts across industries, governments and in academia.