Social media giant Facebook, which finds itself in the middle of a major backlash under accusations of spreading fake news and misinformation, announced on Thursday that it has changed its corporate name to Meta as part of a major rebrand.
The change does not apply to its individual platforms Facebook, Instagram, Whatsapp, and others, but only the parent company that owns them.
The rebranding was announced at the Facebook Connect augmented and virtual reality conference. CEO Mark Zuckerberg introduced Meta which brings together apps and technologies under one new company brand.
“Our corporate structure is not changing, however, how we report on our financials will. Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs. We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1,” said the company.