Facebook is planning to get rid of the intense scrutiny that it is facing for the past few days. Reportedly, the technology giant is going to rebrand itself as a metaverse company in the upcoming week. However, the company hasn’t officially announced anything yet. But sources claim that the company is tired of all the analysis that it is facing lately.
Facebook to Rebrand itself with a New Name
Recent sources claim that Facebook Inc. is going to rebrand itself; as a metaverse company after facing intense scrutiny lately. Moreover, the company might come up with a new name with the same services. The company’s Chief Executive Officer, Mark Zuckerberg; is expected to announce the new name on October 28th, 2021.
He is expected to mention the new changes; during the company’s Annual Connect Conference. Although there are rumors revolving all around regarding the rebranding; the technology giant has denied commenting on anything right now. However, some sources also claim; that this rebranding could also arrive earlier than expected.
What is Metaverse?
Citing the rebranding rumors; a spokesperson for the company decided to keep numb on the issue. He said that the company doesn’t respond to rumors and speculations. Besides that, CEO Mark Zuckerberg recently mentioned the fact; that the company’s future now lies on the concept of the metaverse. Facebook, founded as a social network in 2004; is one of the leading technology companies in the world. Moreover, the parent company also owns other famous social networking sites; such as WhatsApp and Instagram. A metaverse is a virtual world; which people can access via the internet. However, the term is usually used to refer to digital spaces that are depicted more lifelike with the help of virtual reality.
Facebook to Hire 10,000 European Employees
Earlier last week, Facebook announced to hire 10,000 employees in the European Union; for its metaverse program. The company said in a blog post that metaverse has the potential to help unlock access to new social, creative, and economical opportunities.
Besides that, it also mentioned that Europeans; will have this privilege right from the beginning. The company will hire highly specialized European engineers for the program. It also mentioned that the EU is a great market for investing in technology firms. However, the app’s original services are likely to remain the same after the rebranding.