Social media platform Facebook has changed the name of its company to 'Meta'. For the past several days, reports were coming that Facebook is planning to rebrand with a new name. Facebook is focusing on building a "metaverse," which is basically an online world where people can use different tools to transfer and communicate in a virtual environment. To accomplish this, the company has invested heavily in Virtual Reality and Augmented Reality.
Facebook's Chief Executive Officer (CEO) Mark Zuckerberg has announced that the company will grow from a mere social media company to a "metaverse company" and will work on the "embedded Internet", which will combine the real and virtual worlds first and Facebook will be much more than just a social media app.
Facebook's former Civic Integrity Chief, Samidh Chakrabarti had suggested the name 'Meta' to the company. Earlier, Facebook did something similar in 2005, when it changed its name from TheFacebook to Facebook.
Facebook is used by more than 3 billion people worldwide. At the same time, the number of people using Facebook in India is 41 crore.
The 'Metaverse' concept is encouraging for Facebook and other large companies as it creates opportunities for new markets, new types of social networks, new consumer electronics and new patents.
Facebook has changed this name when questions are being raised on the company in many countries about online safety, not stopping inflammatory content. The Indian government has also written to Facebook seeking details of the algorithms and processes used by the social media company.