Social media giant Facebook Inc is planning to rebrand itself with a new name next week , the verge reported on Tuesday citing a source with direct knowledge of the matter.
Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on Oct. 28, but it could be unveiled sooner, the Verge reported.
what facebook is aiming for is an Alphabet INC – like holding company for its family of apps that includes Whatsapp , Instagram , messenger , oculus and the eponymous blue brand. Facebook’s future lies in metaverse , Zuckerberg had said after an earnings call in July .
The news comes at a time when the company is facing increasing US government scrutiny over its business practices. Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook.