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Technology / Internet

Facebook planing to change company name

by Staff Reporter
20 Oct 2021 at 08:53hrs | Views
Social media giant Facebook is planning to change its company name next week, the Verge reported on Tuesday, citing a source with direct knowledge of the matter.

Facebook CEO Mark Zuckerberg plans to talk about the name change at the company's annual Connect conference on 28 October, but it could be unveiled sooner, the Verge report said.

Similar to how Google rebranded under the Alphabet umbrella, the rebrand would likely position Facebook's social media app as one of many products under a parent company, which will also oversee groups like Instagram, WhatsApp, Oculus and more, the report added.

A rebrand could also serve to further separate the futuristic work Zuckerberg is focused on from the intense scrutiny Facebook is currently under for the way its social platform operates today.

A former employee turned whistleblower, Frances Haugen, recently leaked a trove of damning internal documents to The Wall Street Journal and testified about them before Congress.

Antitrust regulators in the US and elsewhere are trying to break the company up, and public trust in how Facebook does business is falling.