Facebook rebrands as Meta, to reflect its metaverse ambitions

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 29, 2021, 5:45 PM GMT+0

The company will start trading under a new stock ticker, MVRS, from 1 December.

On Thursday at the Facebook Connect event, Facebook CEO Mark Zuckerberg announced that the company’s name will be changed to “Meta.” Facebook's moniker doesn't represent everything the firm does or wants to accomplish, according to Zuckerberg, who wish for the company to be perceived “as a metaverse company" over time.

The rebranding reflects Zuckerberg’s plans for building a metaverse, as well as shifting away from solely being known as a social media company. While the corporate structure will not change, the way the company reports its financial results will, wrote Zuckerberg in a blog post.

Q4 2021 onwards, the company will report on two operating segments, namely, Family of Apps and Reality Labs. Facebook along with Instagram, WhatsApp, and Oculus will now operate under the parent company, Meta.

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