Facebook, the social media giant founded by Mark Zuckerberg, recently announced a major corporate restructuring that included changing the parent company’s name. This move signals Facebook’s ambitions to expand beyond just social media and into new technologies like the metaverse.
What is the new parent company name for Facebook?
As of October 28, 2021, Facebook’s parent company is now called Meta Platforms Inc., or Meta for short. The Facebook app will keep its original name, while Instagram, WhatsApp, Oculus, and other apps will sit under the new Meta umbrella.
This rebranding came alongside Facebook’s announcement of its plans to focus on building the metaverse. The “metaverse” refers to a new phase of interconnected virtual experiences that blend online and offline worlds. By changing to Meta, Facebook is signaling its commitment to developing this futuristic vision.
Why did Facebook change its parent company name?
There are several key reasons why Facebook likely decided to change its parent company name to Meta:
- To reflect its broader vision beyond social media – Facebook wants to be known for more than just social apps and sees the metaverse as the next frontier.
- To reset its reputation – Facebook had been facing backlash over privacy, misinformation, and other issues. The rebrand gives it a fresh start.
- To avoid confusion between parent and app names – Calling the parent company Meta distinguishes it from the Facebook app itself.
- To claim the metaverse space – Taking the Meta name cements Facebook’s ambitions to be a leader in the metaverse industry.
In summary, the rebranding signals Facebook is expanding beyond its social media roots as it works to build the metaverse and reinvent how people connect virtually.
When did the Facebook parent company name change take effect?
Facebook officially changed its corporate name to Meta Platforms Inc. on October 28, 2021. This is when the new name took effect across Facebook’s corporate branding, stock ticker, website, and other properties.
The timing coincided with Facebook’s annual Connect conference on October 28, where Mark Zuckerberg made the metaverse announcement and explained the reasons for the rebrand. So the parent company name change became official on the same date it was revealed publicly.
For users, the Facebook app and other consumer products like Instagram and WhatsApp will still retain their original names. Only the parent company that owns these apps has changed from Facebook Inc. to Meta Platforms Inc. This transition will likely happen gradually over time.
What is Facebook’s new stock ticker symbol after the change?
With the name change to Meta, Facebook also changed its stock ticker symbol to align with the new brand. Previously trading under FB on the NASDAQ, Meta’s new stock ticker is:
- META
The ticker switched from FB to META on June 9, 2022. This marked the final step in Facebook’s transition to the Meta name for corporate identity and trading purposes.
Here is a table summarizing the stock ticker changes:
| Company Name | Previous Ticker | New Ticker |
| Facebook Inc. | FB | META |
This change only impacted the parent company and stock ticker – the Facebook app and website URLs will remain facebook.com.
Who will lead Meta as CEO?
Mark Zuckerberg will remain the CEO of Meta following the company rebrand. Zuckerberg founded Facebook in 2004 and has been its leader and public face for 18 years since.
As CEO, Zuckerberg oversees Meta’s corporate strategy, product development, acquisitions, operations, and branding. He was the key driver behind the pivot to focus on the metaverse and advocated for changing the parent company name to Meta.
In his Connect keynote announcing the changes, Zuckerberg said his role as CEO remains focused on building new technologies to “bring people together”. Leadership under Zuckerberg provides continuity even as the company enters a new phase.
Mark Zuckerberg’s future vision for Meta
As Meta CEO, Zuckerberg outlined a future vision focused on the metaverse, AI, VR/AR technologies, and social experiences. Key elements of this vision include:
- Transitioning from 2D screens to immersive 3D metaverse experiences.
- Building virtual spaces where people can interact, learn, work, and play.
- New computing platforms like VR/AR that seamlessly blend digital and physical worlds.
- Leveraging AI to create smarter, more interactive virtual environments.
- Use technologies like neural sensors that allow more natural controls.
This futuristic, interconnected virtual realm is what Zuckerberg sees as Meta’s purpose – the next evolution in social technology after mobile internet.
How were employees notified about the rebranding?
Meta leadership communicated the impending rebrand announcement to employees in several ways leading up to the public reveal on October 28, 2021.
One week before the announcement, Mark Zuckerberg sent an internal memo to Facebook employees revealing the plan to change the parent company name to Meta. This gave employees initial warning before the news went public.
On the day of the announcement, Zuckerberg hosted a live-streamed company Q&A to explain the news to employees and answer their questions. Meta also held an employee event focused on the rebrand later that week.
After the initial announcement, leadership provided regular updates about what the changes would mean for employees. They emphasized that day-to-day operations and culture would stay the same.
Overall, early employee memos, live events, and follow-up communications helped prepare Facebook workers for the major rebranding initiative happening at the company.
How did users of Facebook react to the Meta rebrand?
Overall, public reaction to Facebook’s Meta rebrand has been mixed:
- Some see it as reflective of Facebook’s growing ambitions beyond social media.
- Others are skeptical it will divert attention from Facebook’s ongoing controversies.
- Meta’s focus on the metaverse is polarizing – some are excited, others confused.
- Dropping ‘Facebook’ from the parent company name feels odd to many users.
- Some worry Meta signals more invasive data collection and ads as Facebook pushes its metaverse vision.
In polls, more users tend to have negative reactions than positive reactions to the rebrand announcement. However, public opinion remains divided.
It may take time for Facebook’s user base to adjust to the new Meta branding as it becomes more visible across Facebook’s apps and products. The impact on users’ perceptions long-term remains to be seen.
Example reactions
Here are some example reactions from Twitter users about the Meta rebrand:
| Positive Reaction | “I’m excited for Facebook’s shift to Meta. The metaverse has so much potential!” |
| Negative Reaction | “Facebook changing to Meta doesn’t make me forget all their scandals and toxic track record.” |
| Confused Reaction | “Not sure I really get this whole Meta thing…time will tell if it’s smart I guess.” |
| Skeptical Reaction | “Seems like the Meta rebrand is just a distraction from everything Facebook’s done. Not buying it.” |
What does the Meta rebrand mean for privacy?
The Meta rebrand does not inherently change anything about Facebook’s collection and use of user data and approach to privacy. However, the focus on building immersive virtual spaces raises new privacy considerations.
Potential privacy implications of Meta’s metaverse plans include:
- Increased data collection – More user tracking across virtual and physical spaces.
- New biometrics – Gathering biometric data for VR controllers, AR glasses, neural inputs.
- Data combination – Cross-referencing data from VR, AR, online, and offline.
- Expanded profiles – Building detailed behavioral and biological profiles of users.
- Unknown risks – New avenues for data exploitation and misuse.
On the other hand, Meta’s push into hardware like AR glasses gives it more control over user data compared to mobile platforms. The company has introduced some privacy-focused hardware features.
Overall though, Meta’s vision relies heavily on accessing large amounts of user data. Scrutiny of its privacy practices will remain high amidst these ambitious expansion plans.
Steps taken
Meta has taken some steps to address privacy concerns:
- Highlighting privacy-focused computing as a principle for AR glasses
- On-device processing to avoid cloud transmission of VR sensor data
- Working on differential privacy techniques to anonymize data
- Engaging civil society groups and regulators on privacy practices
However, many critics believe Meta needs to take far stronger action to match its privacy promises – the long-term direction remains uncertain.
How will the rebranding impact Facebook’s ads business?
Facebook’s core advertising business is unlikely to change much in the immediate future due to the Meta rebrand. Ads will continue to appear across Facebook’s social apps as normal. Meta’s initial presentation of its metaverse vision focused more on consumer experiences rather than advertising.
However, if Meta is successful in building an expansive immersive metaverse, it could open up new advertising possibilities down the road, such as:
- VR/AR ads during metaverse gaming or events
- Billboards and branded content integrated into virtual spaces
- Sponsored virtual goods, clothes, or items
- Using avatars, AI, and data for targeted metaverse ads
Meta also highlighted the potential for creators to monetize through virtual products and events – indirect advertising opportunities.
While still many years away, an established metaverse ecosystem connected to real-world commerce could become a lucrative advertising environment. Expect Meta to tread carefully though, given scrutiny of its current ads business.
Short-term impact
In the short-term, Meta’s ad business is likely to operate as usual, with the rebrand having little effect. Ads will continue appearing across:
- Messenger
- WhatsApp (where enabled)
Meta may begin incorporating some early metaverse demo ads, but widespread changes aren’t imminent. Gradual evolution of ad formats and targets is expected based on Meta’s metaverse data over time.
How does the rebrand impact Facebook’s other apps and technologies?
Aside from changes to the corporate branding, Facebook’s other apps and technologies remain largely unchanged following the Meta rebrand.
Apps
Popular apps like Facebook, Instagram, Messenger, and WhatsApp will keep their original names and functionality. Over time, we may see some integration of metaverse-related features, such as:
- AR filters and avatars in Instagram Stories
- Virtual spaces for Messenger conversations
- VR interface for interacting with WhatsApp
But the core experience across these apps will stay familiar to billions of users in the near-term as Meta experiments with metaverse tech.
Hardware
Oculus VR headsets have been rebranded to Meta, becoming Meta Quest. However, the actual device capabilities and platform remain largely the same.
Meta is continuing development on AR glasses, neural interfaces, VR gaming, and other hardware products aligned with its metaverse vision.
Research
Facebook Reality Labs, focused on AR/VR research, is now Meta Reality Labs. The company highlighted key innovations it is working on like haptic gloves, improved avatar realism, and neural interfaces.
Overall the scope of the research happening at Reality Labs seems unchanged – simply with a new name aligned to Meta.
Conclusion
The Meta rebrand marks a major turning point for Facebook as it aims to be known for more than social media. While the name change alone doesn’t guarantee success building the metaverse, it signals strong ambitions to shape the future of technology.
For now, the Facebook app remains familiar to users as Meta experiments with new interfaces. But in time, integration of immersive digital spaces could significantly reshape social experiences online. This next decade will determine whether Meta’s big bet pays off in making the metaverse a reality.