Facebook is changing its company name to Meta as it confronts wide-ranging scrutiny of the real-world harms from its various platforms after a whistleblower leaked hundreds of internal documents.
Facebook CEO Mark Zuckerberg made the name change announcement at the company’s Connect event that the company’s new name will be Meta.
“We are a company that builds technology to connect,” Zuckerberg said. “Together, we can finally put people at the center of our technology. And together, we can unlock a massively bigger creator economy.”
“To reflect who we are and what we hope to build,” he added. He said the name Facebook doesn’t fully encompass everything the company does now, and is still closely linked to one product. “But over time, I hope we are seen as a metaverse company.”
The company’s corporate structure will not be changing, wrote Zuckerberg in a blog post , but how it reports financial results will. “Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs. We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Today’s announcement does not affect how we use or share data.”