Time to Rebrand: Social Media Giant Facebook Reportedly Planning to Change Company Name
- The American multinational technology company based in California would announce a new name by next week focused on the metaverse
- In this, users would be able to interact with each other in real-time virtually
- The new development came after Facebook, WhatsApp and Instagram crashed, leaving millions in the dark
- Facebook has since announced plans to hire 10 000 people in the European Union to build the metaverse
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Social media giant Facebook is reportedly planning to change its company name.
Source: Getty Images
According to CNN, the American multinational technology company based in California would announce a new name by next week focused on the metaverse.
Metaverse involves combining virtual and augmented reality technologies in a new online domain and could be in line with the company's direction.
In this, users would be able to interact with each other in real-time virtually.
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The Guardian reported that under the new changes, the company headed by Mark Zuckerberg would rebrand from its holding company but would retain the social media platform name.
However, Facebook did not comment on the matter terming it a rumour.
The holding company owns Instagram, WhatsApp, and Oculus.
Hiring plans
Facebook has since announced plans to hire 10 000 people in the European Union to build the metaverse.
The decision to hire European labour stems from having a large consumer market, first-class universities, and, most important, top-quality talent.
Metaverse enthusiasts point out that the internet is already starting to blur the lines between virtual experiences and reality.
Outage
The new development came after Facebook, WhatsApp and Instagram crashed, leaving millions in the dark.
According to Downdetector.com, Facebook, the platform received over 20,000 complaints.
Via a statement released on his Facebook account on Tuesday, October 5, Zuckerberg admitted the outage was an inconvenience as many people worldwide rely on their services.
He also announced the restoration of the services, whose outage made headline news across the world.
"Facebook, Instagram, WhatsApp, and Messenger are coming back online now. Sorry for the disruption today.
"I know how much you rely on our services to stay connected with the people you care about,” he wrote.
The outage smacked Zuckerberg so hard that it saw him fall from his place as the fifth richest person in the world.
Zuckerberg's personal wealth fell by nearly GHc7 billion in just a few hours.
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