The social network Facebook will no longer determine the future and will be the central product of the company of the same name. The American tech giant will now be known as Meta, the largest ever rebranding in history, announced today, October 28, by Facebook CEO Mark Zuckerberg. The new name is based on the concept of creating a “multiverse”. The announcement took place as part of the Facebook Connect 2021 virtual conference.
Under the renewed agreement, Facebook and the social network’s “application family” will become a division of parent company Meta. It will continue to be headed by Zuckerberg. The restructuring has certain similarities with Google, which, along with the controlled DeepMind and Nest, became subsidiaries of the Alphabet holding.
What changes will happen in the Facebook ecosystem
- The stock ticker will change from FB (Facebook) to MVRS (for “multiverse”) starting in December.
- The VR and AR product division of Reality Labs will be spun off from the rest of the company while maintaining its corporate structure.
- The Oculus subsidiary will be renamed Meta Quest in early 2022.
- The Facebook Portal line of smart displays will be renamed Meta Portal, and future VR products will also receive the Meta prefix.
- All VR-based social services such as Horizon Workrooms for VR meetings, Horizon Home and Horizon Venues will fall under the generic Meta Horizon brand.
- Meta users do not need a Facebook account to use other services.
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