Why Facebook Plans On Changing Their Name

Facebook is the parent company of Instagram, WhatsApp, Facebook (the social site), and Oculus VR. Recently, there have been many rumors storming the internet suggesting that Facebook could change the name of its parent company. The announcement of this new name is expected at the company’s annual connect conference that will take place on 28th October 2021. 

With a new name, Facebook (the social site), Instagram, and the other platforms currently under Facebook (the company) will now be managed by another Umbrella company. We have already seen this happening with other companies, including Google’s rebrand to Alphabet Inc in 2015 and Snapchat to Snap Inc in 2016. 

We also saw Apple rebrand from Apple Computer to Apple Inc in 2007, when Steve Jobs wanted people to see Apple as a company that offers tech solutions and not just a computer company. 

Currently, the new name that we expect Facebook to reveal is known by just a handful of people internally. Even some of the senior executives at Facebook don’t know what to expect. However, most people hope the name to have something related to Horizons. 

Facebook has not yet made an official statement about this rumor, so the reason for this change is still unclear. However, the most apparent reason for this change is to make the company’s intention clear to everyone; Facebook wants to be more than just a social media company that we know today. They want to be looked at as a tech company with the potential to disrupt any industry using its tech innovations. 

The company already has over 10,000 employees building consumer hardware devices, including AR/VR glasses. Mark Zuckerberg, the current CEO of Facebook, believes VR and AR will soon become a big thing, and the only way of making this a reality is by creating the best VR/AR hardware to take advantage. 

In July 2021, Mark Zuckerberg said he wants Facebook to be looked at as a Metaverse company. Metaverse refers to some form of digital reality that integrates aspects of social media, digital reality, Augmented Reality (AR), Virtual Reality (VR), and cryptocurrencies. Facebook intends to venture into all these technologies to allow users to do much more virtually beyond texting and sharing images.  

The rebrand could also take some pressure off Facebook due to the privacy-related scandals they’ve heard in the last decade. Facebook is no longer that “darling brand” that everyone loved during its early days. Thus, changing the name to something different could rejuvenate the brand popularity they enjoyed during their first 5 to 10 years in the tech business.