Facebook reportedly set to announce rebrand under parent company with different name

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Facebook is reportedly planning a rebrand that would position its flagship social media platform as one product underneath an umbrella corporation of a different name.

Facebook is set to announce the name change during or before the company's annual Connect conference on Oct. 28, a company insider told the Verge. It may be part of a twofold strategy to distance the broader corporation, Facebook Inc., from the controversies over misinformation plaguing the Facebook app and expand into Mark Zuckerberg’s “metaverse” concept.

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The new company moniker is “a closely-guarded secret within [Facebook's] walls and not known widely, even among its full senior leadership,” according to the Verge.

The app and website of the iconic social media platform would remain as Facebook, but the parent company that operates it and other platforms such as Instagram, WhatsApp, and virtual reality developer Oculus would be changed.

Google made a similar move in 2015 when it reorganized under parent company Alphabet, which oversees more holdings than just the search engine.

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In recent weeks, Facebook has increased its push to move beyond social media and toward Zuckerberg's proposed “metaverse” concept to create “a new phase of interconnected virtual experiences using technologies like virtual and augmented reality.” The rebranding may reflect this expansion.

On Monday, Facebook announced it would create 10,000 new jobs in Europe to help build the metaverse.

Facebook declined to comment on the Washington Examiner's request to confirm the name change.

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Tags: News, Facebook, Big Tech, Technology, Google

Original Author: Virginia Aabram

Original Location: Facebook reportedly set to announce rebrand under parent company with different name

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