Social media giant Facebook has changed its corporate name to Meta as part of a major rebrand.
The move follows a series of negative stories about Facebook, based on documents leaked by an ex-employee.
Frances Haugen has accused the company of putting “profits over safety”.
The company said the new name would better “encompass” what it does, as it broadens its reach beyond social media into areas like virtual reality (VR).
The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.
Facebook boss Mark Zuckerberg announced the new name as he unveiled plans to build a “metaverse” – an online world where people can game, work and communicate in a virtual environment, often using VR headsets.
The social media giant intends to start trading its shares under the new stock ticker MVRS from 1 December 2021.
In 2015, Google restructured its company calling its parent firm Alphabet, however, the name has not caught on.
zwnews, bbc
