Facebook, the most well-known social media platform, is proposing a rebranding. According to The Verge, a US technology news website, Facebook’s Founder and CEO, Mark Zuckerberg, wanted to address the name change during a business event, although it might be disclosed sooner. Facebook is back in its old fast-paced mode here, thanks to its concentration on constructing the metaverse.
Why Should Facebook Rebrand?
According to sources, the corporation has been debating the decision for at least two months. Three years ago, the company’s former chief marketing officer, Antonio Lucio, asked Facebook to begin differentiating the corporate brand from its applications by changing the corporate name to something like “FB Inc.”
The Reason behind Facebook’s Rebranding.
One is that, following the 2016 election, Facebook’s reputation began to degrade considerably and has never completely recovered. The Cambridge Analytica data privacy scandal; the FTC investigation; the Congressional antitrust investigation; a parade of departing employees criticising the organisation on their way out, ultimately resulting in Frances Haugen’s whistleblowing; left-wing activism against offensive speech and misrepresentation on the platform; and suitable activism against censorship and de-platforming.
Despite the fact that Facebook’s revenue has grown, the company today has fewer political allies than ever before. Even more troubling for Facebook are emerging signals that youth of today regards Facebook’s goods as less important than their parents do. It does not appear to be cool among today’s kids, at the very least. According to Facebook, hundreds of journalists want to reveal the results of their investigations against the corporation.
The second reason the Brand altered its mind about the name is that Facebook the app is not the brand’s future. It certainly hasn’t been since Zuckerberg’s acquisition of Instagram, when millennials abandoned the News Feed in favour of a younger, hipper brand.
A Metaverse Company.
Horizon Worlds, a social virtual reality platform, and Horizon Workrooms, a virtual reality meeting service, are both developed by Facebook. According to Nick Clegg, Facebook’s vice president of global affairs, he now attends Monday morning meetings in the metaverse with a virtual table and whiteboard.
Since July, Zuckerberg has been promoting the concept of the metaverse, asserting that it held the answer to Facebook’s future – the idea that users will live, work, and practice within a digital environment. Oculus interactive virtual gadgets are fundamental to the company’s goal and vision.
Facebook has made critical expenditures in virtual reality and augmented reality, with the goal of connecting its nearly 3 billion users through numerous apps and devices.
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