In his founder’s letter, Mark Zuckerberg, Facebook, Inc CEO, announced that the company was changing the name to Meta, according to a press release by Facebook on Thursday.

  • The big change reflects their direction on building the metaverse that the company says will be a “hybrid of today’s online experiences, at times expanded into three dimensions or projected into the physical world.”
  • CEO Mark Zuckerberg stated that the company is at the beginning of the next chapter for the internet, and it’s the next chapter for the company.
  • Zuckerberg further stated that the company builds technology to bring people together, and the metaverse is the next frontier in connecting people, similar to how social networking started. The company’s rebrand comes after a period of sustained scrutiny for the company.
  • Acknowledging that there are critical issues to address in the present, Zuckerberg added that he wants to focus on innovation and “absolutely go for it.”

The CEO also insisted that “privacy and safety need to be integrated into the metaverse from day one.” FB up +0.78%, Pre-market trading.