The Facebook Company has been rebranded and will be known as Meta going forward. CEO Mark Zuckerberg announced the rebrand at Connect 2021 and the company is now aiming to build the Metaverse which is described as “a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world.”
The Facebook Company encapsulated social media services including Facebook, Messenger, WhatsApp, Instagram and Oculus. Going forward, these services will fall under Meta but the rebrand does not affect how Facebook, WhatsApp and more will function.
“Our corporate structure is not changing, however, how we report on our financials 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,” the company said in a press release.
CEO Mark Zuckerberg recently announced a $50 million investment in global research and program partners to ensure the Metaverse products are developed responsibly.
As Zuckerberg explains in the Founders letter, the Metaverse will ensure that you are in the experience and not just looking at it through visual aid. With it, the company wants to explore the “ultimate dream of social technology” which is giving you a feeling of presence, as though you are with another person in another place.
“In the metaverse, you’ll be able to do almost anything you can imagine — get together with friends and family, work, learn, play, shop, create — as well as completely new experiences that don’t really fit how we think about computers or phones today,” Zuckerberg writes in the Founder’s Letter.