The company also unveiled a new sign at its headquarters in Menlo Park, California, on Thursday, replacing its thumbs-up "Like" logo with a blue infinity shape. Mr Zuckerberg said the new name reflects that over time, users will not need to use Facebook to use the company's other services. The word "meta" comes from the Greek word meaning "beyond". To an outsider, a metaverse may look like a version of VR, but some people believe it could be the future of the internet. Instead of being on a computer, people in a metaverse might use a headset to enter a virtual world connecting all sorts of digital environments.
It is hoped the virtual world could be used for practically anything from work, play and concerts, to socialising with friends and family. Facebook said it intends to start trading its shares under the new stock ticker MVRS from 1 December.
The company has had multiple hits to its reputation, with The Washington Post today reporting that Facebook withheld important information about vaccine misinformation from policymakers during the pandemic. It was the latest in a series of stories based on internal documents leaked by ex-employee Ms Haugen to the media.
Among other things, the reports have claimed Facebook sat on research that showed Instagram harmed teenage mental health, and struggled to remove hate speech from its platforms outside the US. Mr Zuckerberg has described the reports as a "coordinated effort to selectively use leaked documents to paint a false picture of our company". Trying to name a company is difficult.
Zuckerberg says he's chosen Meta, because of its meaning in Greek - "beyond". It also alludes to the "Metaverse", an online virtual oasis that he wants to build. Here's why Facebook, might have a problem with getting everyone to call them Meta.
Firstly, the move looks like Facebook is trying to divert attention away from the trove of negative stories hanging around the company. Critics believe Facebook has done this because the brand has become toxic. 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.
The metaverse is a term coined in the dystopian novel "Snow Crash" three decades ago and now attracting buzz in Silicon Valley. It refers broadly to the idea of a shared virtual realm which can be accessed by people using different devices.
The company, which has invested heavily in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand. It said it would not change its corporate structure. The tech giant, which reports about 2. In the latest controversy, whistleblower and former Facebook employee Frances Haugen leaked documents which she said showed the company chose profit over user safety.
Haugen has in recent weeks testified before a U. Senate subcommittee and lawmakers in the UK's Parliament. Zuckerberg earlier this week said the documents were being used to paint a "false picture. The company said in a blog post that it intends to start trading under the new stock ticker it has reserved, MVRS, on Dec. On Thursday, it unveiled a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up "Like" logo with a blue infinity shape.
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