Facebook (the parent company) has changed its name to Meta, in reference tothe metaverse, which combines social media with virtual and augmented reality — this will be the company’s main focus moving forward. The social media platform will still be called Facebook and won’t be affected by the rebranding.
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Mark Zuckerberg (FB/IG) is the founder, chairman, and CEO of Meta, which he originally founded as Facebook in 2004. Mark is responsible for setting the overall direction and product strategy for the company.
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On Oct. 28, Facebook CEO Mark Zuckerberg announced that the company known as Facebook would be changing its name. The company, now known as Meta , will still have Facebook, Instagram, WhatsApp and Oculus VR under its control.
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It marked the company’s worst one-day loss since its Wall Street debut in 2012. “Meta CEO Mark Zuckerberg may be keen to coax the world into an alternate reality, but disappointing fourth-quarter results were quick to burst his metaverse bubble,” said Laura Hoy, an equity analyst at Hargreaves Lansdown.
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