Facebook Parent Company Rebrands as Meta to Build the Metaverse
Facebook's parent company officially changes its name to Meta as it shifts its focus toward building the metaverse. The rebranding brings the company's apps and technologies under one new corporate umbrella.
CEO Mark Zuckerberg introduces Meta as the new parent company brand that brings together Facebook's apps and technologies. Meta focuses on bringing the metaverse to life to help people connect, find communities, and grow businesses. This next evolution of social technology expands online experiences into three dimensions or projects them into the physical world.
At the annual Connect 2021 conference, Meta showcases potential metaverse experiences across social connection, entertainment, gaming, fitness, work, education, and commerce. The company announces new building tools like the Presence Platform for Quest 2 and commits $150 million to immersive learning to train the next generation of creators.
The corporate structure remains unchanged, but the company plans to report financials under two operating segments: Family of Apps and Reality Labs. Meta also prepares to start trading under the new stock ticker MVRS on December 1, while assuring users that the rebranding does not affect how the company uses or shares data.