Social-media service will retain Facebook name as umbrella company readies billions in investments in new mixed-reality platform.
Facebook Inc. Chief Executive Officer Mark Zuckerberg said the company changed its name to Meta to reflect growth opportunities beyond its namesake social-media platform in online digital realms known as the metaverse.
“Over time I hope our company will be seen as a metaverse company.”Mark Zuckerberg
On Thursday (Oct. 28, 2021) Mr. Zuckerberg unveiled the name, formally Meta Platforms Inc., for the company that also includes Facebook, Instagram, WhatsApp and other products.
CEO Mark Zuckerberg, speaking at the company’s live-streamed virtual and augmented reality conference, said the new name reflected its work investing in the metaverse, rather than its namesake social media service, which will continue to be called Facebook.