Social network Facebook changes corporate name to Meta

Company CEO Mark Zuckerberg announced the Meta name during the annual Facebook Connect keynote

Facebook Inc. is changing its name to Meta Platforms Inc., or Meta for short, to reflect what CEO Mark Zuckerberg says is its commitment to developing the new surround-yourself technology known as the “metaverse.” But the social network itself will still be called Facebook.

Sceptics immediately accused the company Thursday of trying to change the subject from the Facebook Papers, the trove of leaked documents that have plunged it into the biggest crisis since it was founded 17 years ago. The documents portray Facebook as putting profits ahead of ridding its platform of hate, political strife and misinformation around the world.

Marketing consultant Laura Ries likened the move to BP rebranding itself to “Beyond Petroleum” to escape criticism that the oil giant harmed the environment.

Facebook is the world’s social media platform and they are being accused of creating something that is harmful to people and society, she said. They can’t walk away from the social network with a new corporate name and talk of a future metaverse.

Company CEO Mark Zuckerberg announced the Meta name earlier today during the annual Facebook Connect (formerly known as Oculus Connect) keynote.

Zuckerberg explained the change as a solution to “confusion and awkwardness” around the company’s name also being the brand of a specific social app. Zuckerberg singled out the issue of Oculus users being required to log in via Facebook, a sore point for some VR enthusiasts.

I think that there was a confusion about, ‘Am I signing into this with my Facebook corporate account or is this going to be tied to my social media account?’, he noted.

When people buy our products, we want them to clearly understand that all of these devices come from Meta and ladder up to our metaverse vision, Meta CTO Andrew Bosworth announced. That means retiring the name Facebook took on when it acquired Oculus in 2014.

He said: We all have a strong attachment to the Oculus brand, and this was a very difficult decision to make. While we’re retiring the name, I can assure you that the original Oculus vision remains deeply embedded in how Meta will continue to drive mass adoption for VR today.