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Report: Facebook planning to change its company name

Published: Oct. 20, 2021 at 9:33 AM EDT
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(Gray News) – A new name change could be coming for Facebook’s company name, as it seeks to be known for more than social media.

According to the tech news site The Verge, Facebook, which also owns products like Instagram, Whatsapp and Oculus, plans to announce a new name next week.

The report states the move would likely keep the Facebook name for the app itself, repositioning it as one of many things the company provides.

The company previously announced plans to hire 10,000 people in the European Union to build its “metaverse” - a new computing platform that promises to connect people virtually.

The reported rebranding comes as Facebook faces criticism from regulators around the world over its business practices.

A company spokesperson said they are not commenting on the report, calling it “rumor or speculation.”

Copyright 2021 Gray Media Group, Inc. CNN Newsource contributed to the report. All rights reserved.