Goodbye Facebook, Hello Meta

Hello Meta, Goodbye FacebookFacebook, the social networking powerhouse, has officially changed its name to Meta. The rebrand intends to reflect the new initiative of the company’s perceived growth and potential beyond that of a typical social media platform. Mark Zuckerberg envisions Metaverse as a digital space where people can interact virtually using personalized animated avatars. His goal is to create an immersive space, where people feel as if they are together while playing different games and exploring the so-called “metaverse” space online. In addition to the social aspect, Meta will also offer virtual reality workspaces through Horizon for an enhanced remote working experience. 

 

October Problems for Facebook

Regularless of these impressive leaps towards innovation, October 2021 proved to be a difficult time for Facebook. Leaked documents and an inside whistleblower exposed major controversial business practices that did not go over well with the  public. Concerns arose regarding the site’s effect on mental health and the handling of users’ personal information. In addition to this, Facebook also experienced a blackout, with the site disappearing from the internet entirely due to a server issue. These occurrences placed the social media powerhouse in a rather negative news cycle for weeks on end. Despite a $5.9 billion loss of revenue from the global blackout, major PR crises, and a significant drop in public trust, the company continues to operate optimistically, allocating an impressive amount of resources and manpower to building out the new innovative digital landscape. 

 

Metaverse First

Zuckerburg, the creator of Facebook, officially publicized Meta as the corporation’s new name on October 28th. Since Zuckerberg announced in July that  “from now on, we’ll be metaverse first, not Facebook first,” the company has hired 10,000 new employees to build the new virtual world.  The goal of the Metaverse initiative is that   “over time, you won’t need to use Facebook to use (its) other services.”       

 

The Real Reasons for Changing the Name

Facebook’s main social app and company products now exist under the new brand name, “Meta.” Though many industry reports claim the company will likely undergo a major corporate restructure, Zuckerburger insists the company structure will remain the same. Many experts claim the emphasis on the Metaverse initiative and rebrand as a savvy marketing move; many don’t believe it is enough to combat the torrent of public criticism in light of the company’s recent PR issues. While the name change is generating a positive media buzz around Facebook or “Meta“, the decision to change the name lies in the tech’s desire to become, as Zuckerburg says, “the next frontier just like social networking was when we got started.”  

 

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