Social media giant Facebook changes name to Meta. The company decided on the name to reflect connections beyond social media.
The name change was announced at the Facebook Connect augmented and virtual reality conference on Thursday.
Facebook, which now goes by Meta is based on the sci-fi term metaverse, to describe its vision for working and playing in a virtual world.
Announcing @Meta — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. pic.twitter.com/ywSJPLsCoD— Facebook (@Facebook) October 28, 2021
The names of the apps that we build—Facebook, Instagram, Messenger and WhatsApp—will remain the same.— Facebook (@Facebook) October 28, 2021
The metaverse is the next evolution of social connection. It's a collective project that will be created by people all over the world, and open to everyone. You’ll be able to socialize, learn, collaborate and play in ways that go beyond what’s possible today. pic.twitter.com/655yFRm8yZ— Facebook (@Facebook) October 28, 2021
The Company will spend about $10B over the next year to develop technologies required for growing the metaverse.