Popular Social media company, Facebook, is reportedly planning to rebrand itself next week to reflect its focus on building a ‘metaverse,’ or a collection of virtual worlds, in a move that would distance the parent company from current scrutiny, according to Dailymail.
Report says the renaming is likely to leave intact the name of the original Facebook, launched in 2004.
Chief Executive Officer Mark Zuckerberg plans to reveal the parent company’s new name at its annual Connect conference on October 28, but it could be unveiled sooner, the Verge reported.
The change would likely position Facebook’s social media app as one of many products under a parent company, which will oversee products like Instagram, WhatsApp, Oculus and more.
However, Facebook said it does not comment on rumor or speculation.