Facebook is the largest social media platform right now and the company has grown so much more with its acquisition of other social media and communication platforms like Instagram and WhatsApp.

Now, to reflect the company’s focus on building the metaverse, Facebook is planning to change its company name as early as next week, reports The Verge, citing sources with direct knowledge of the development.

While not much is known at this point in time, it’s likely that the company will have a new parent company and Facebook, Messenger, Instagram, WhatsApp, Oculus, and other products will be positioned under the new parent company.

The development comes at a time when antitrust regulators in the United States as well as in other regions are trying to break the company up.

The new name for the company is a closely guarded secret and even the full senior leadership isn’t aware of it. There’s a possibility about the new name to have something to do with ‘Horizon.’

It is said that the company’s CEO Mark Zuckerberg is planning to talk about the name change at the annual Connect conference taking place on 28th October. But there’s a possibility that the announcement could happen earlier than that.

The rebrand could also help separate some of the futuristic work that the company is doing and could give that team a breather from the intense scrutiny that the social media platform Facebook is facing related to its operation.

Facebook has set up a dedicated metaverse team which Mark Zukerberg says is going to be a big part of the next chapter “for the way that the internet evolves after the mobile internet.” He also added that the company will be doubling down in this area.

In 2015, Google had reorganized the company’s holding structure and announced Alphabet as the parent company as it wanted to signal about no longer being just a search engine but a growing conglomerate with companies working in several areas.

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