When will Facebook change its name to meta

When will facebook change its name to meta

Facebook announced on Thursday that it had changed its company name to Meta.
The name change, announced at the Facebook Connect augmented and virtual reality conference reflects the company’s ambitions to expand beyond social media.

The name change also comes after the company grappled with news reports over the past month stemming from internal documents from informant Francis Haugen.

Facebook announced on Thursday that it had changed its company name to Meta.

The name change was announced at the Facebook Connect Augmented and Virtual Reality conference. The new name reflects the company’s ambitions to expand beyond social media. Facebook, now known as Meta, has adopted a new name, based on the science fiction term Metaverse, to describe its vision of working and playing in the virtual world.

When will Facebook change its name to meta

“Today we are seen as a social media company, but in our DNA we are a company that creates technology to connect people, and Metaverse is the next frontier, just like social networks when we started,” said Meta – CEO Mark Zuckerberg.
When announcing the new name, the company also said it would change its stock ticker from FB to MVRS effective December 1.

In July, the company announced the formation of a team to work on Metaverse. Two months later, the company announced that Andrew “Boz” Bosworth, who currently heads the company’s hardware division, would be promoted to Chief Technology Officer in 2022, and that from the fourth quarter onwards, Reality Labs’ hardware division would be split into separate reporting segments.

“Our hope is that over the next decade the Metaverse will reach a billion people, host hundreds of billions of dollars in digital commerce, and support the work of millions of creators and developers,” Zuckerberg wrote in a letter Thursday.

In recent years, the company has stepped up its hardware efforts with the introduction of various video portal telephony devices, the introduction of Ray-Ban Stories glasses, and the introduction of various versions of the Oculus virtual reality headset. The company says augmented and virtual reality will be an important part of its strategy in the coming years.

The company also said this week that it will spend about $10 billion over the next year developing the technology needed to build the metaverse.

Zuckerberg demonstrated the company’s ambitions for the Metaverse on Thursday.

The demo is similar to Pixar’s animation software that the company plans to one day build. Demonstrations include users roaming outer space as animated versions of themselves or as fantasy robot-like characters representing their virtual selves. Zuckerberg used part of it to accuse other tech companies of stifling innovation at high developer costs.

Zuckerberg says a lot of that is still a long way off, as elements of the metaverse may become big in five to ten years. The company expects to “invest billions of dollars in the years to come before the Metaverse reaches its size,” Zuckerberg added.

“We believe that the Metaverse will be the successor to the mobile Internet,” Zuckerberg said.

Additionally, Meta has announced a new virtual reality headset called Project Cambria. The device will be a high-end product that will be available at a higher price than the Quest 2 headphones starting at $299, the company said in a blog post. Project Cambria will be released next year, Zuckerberg said.

Meta also announced the code name of its first fully intelligent glasses with AR: Project Nazare. The glasses are “still a few years old,” the company said in a blog post. Zuckerberg said “we still have the option to continue Nazare but we are making good progress”.

The name change comes amid a series of news reports last month after Francis Haugen, a former employee turned informant, posted a series of internal company documents to news outlets, lawmakers and regulators.

The company is reported to have been aware of a lot of damage caused by its apps and services, but failed to fix the problem or attempt to resolve it. More documents are expected to be shared daily over the coming weeks.

In an analyst interview on Monday, Zuckerberg emphatically rejected the accusations and criticism in the report from the documents presented by Haugen.

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