Oct 21, 2021 10:56:00

Why is it reported that Facebook is considering changing the company name?

Overseas media The Verge reports that Facebook is considering changing the company name. Facebook is focusing on the development of a new 'virtual space', and the change in company name is believed to be intended to keep the eyes of authorities looking at Facebook away from the new platform.

Facebook plans to change company name to focus on the metaverse --The Verge
https://www.theverge.com/2021/10/19/22735612/facebook-change-company-name-metaverse

Until now, Facebook has mainly used the advertising business as its main source of revenue, but in response to the headwinds of the advertising industry, it announced in July 2021 that it will focus on the virtual space 'Metaverse' in the future. Facebook describes Metaverse as 'a virtual environment where people can shop and play together in a digital space.' Mark Zuckerberg, CEO, with respect to The Verge in 2021 July 'People, the Facebook' will become regarded as rather than the company, 'the SNS' metaverse of the company, '' the

comment had been.

Facebook's revenue increased 56% year-on-year and grew at the fastest pace since 2016, but the outlook is unclear due to 'the headwind of Apple's advertising strategy', and we will focus on the virtual space 'Metaverse' in the future --GIGAZINE

Then, in August 2021, Facebook's Oculus released a beta version of the virtual conference room 'Horizon Workrooms'. Furthermore, on September 27, 2021, it announced that it would invest 50 million dollars (5.5 billion yen) in the development of Metaverse.

Meanwhile, technology-related media The Verge reported that 'a person familiar with the situation' got information that 'Facebook is considering changing the company name reflecting the emphasis on Metaverse.' The new company name is kept secret and is not known to Facebook's senior management, but The Verge announced that 'Horizon Workrooms' was released in August and Facebook's on October 7, 2021 Based on the social VR service ' Facebook Horizon ' being renamed to 'Horizon Worlds ', we speculate that 'the new company name may be related to'Horizon''.

The new company name is expected to be announced at or earlier than CEO Zuckerberg's keynote speech at Facebook's annual CONNECT 2021 developer conference scheduled for October 28, 2021.

The Verge said, 'Facebook has been criticized by citizens and monitored by regulatory agencies due to issues such as antitrust laws. The company name change has the effect of separating the new technology under development from Facebook and keeping it away from surveillance. Maybe. '

A Facebook spokeswoman said he declined a comment request from The Verge.