Tech giant, Facebook, has rebranded and change its name to Meta.
The new holding company Meta will encompass Facebook, its largest subsidiary, as well as apps such as Instagram, WhatsApp and the virtual reality brand Oculus.
This means that it is the parent name that is changing and being separated from Facebook as a platform.
Its founder, Mark Zuckerberg, announced the development on Thursday, with obersvers saying it was a response to the pressure on the company, over security and safety issues.
Like other social media, Facebook and its sisters like Instagram and WhatsApp are occasionally infiltrated by scammers and some authorities consider the management liable in some way.
According Zuckerberg, the new name won’t affect how the company uses or shares data and the corporate structure isn’t changing.
The company said its stock will start trading under a new ticker, MVRS, on Dec. 1.
“Over time, I hope that we are seen as a metaverse company and I want to anchor our work and our identity on what we’re building towards,” he told a virtual conference.
“We’re now looking at and reporting on our business as two different segments, one for our family of apps, and one for our work on future platforms.
“And as part of this, it is time for us to adopt a new company brand to encompass everything that we do to reflect who we are and what we hope to build.
“I am proud to announce that starting today, our company is now Meta,” he stated.
