Facebook Inc. is considering rebranding the company under a new name. Citing a source familiar with the matter, The Verge said that Facebook plans to change the name of its company next week. CEO Mark Zuckerberg plans to speak at the company's annual Connect conference on October 28 about the name change.
According to reports, the company wants to make such a decision, not just on social media platforms. However, a Facebook spokesperson declined to comment, saying the company did not respond to rumors and speculation.
The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more.
The news comes at a time when the company is facing increasing scrutiny from the US government over its business practices.
In July, he said, over the next several years, “we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”