Tech&Innovation

Facebook rebrands to “Meta”

Facebook has been the number one social media with tons of recent backlash from both the public and lawmakers about recent security and privacy concerns. Amidst all the problems Facebook had rebranded to Meta. The name comes after Zuckerburg’s consistent push for a multiverse vision of social networking.

So why did Facebook change its name to Meta? “In many ways, the name change has been in progress for a couple of years now. In 2019, we rebranded the company with a different word mark and a different logo, but it was still called Facebook. But the reason we did that in 2019 was that we were more than just the Facebook app and the Facebook product, and had been for quite some time.”

The name change also is due to Facebook having several companies with different roles which push past just a normal social media company. On Instagram and Facebook, you are able to shop or find products and brands pushing past the normal social media company scope.

Facebook currently owns several companies that are not specifically social networking platforms. According to titlemax.com, here are the top 10 companies Facebook owns that might be recognizable.

  1. WhatsApp ($19 billion)
  2. Oculus VR ($2 billion)
  3. Instagram ($1 billion)
  4. CRTL-labs (between $500 million and $1 billion)
  5. LiveRail ($500 million)
  6. Onavo (between $100 million and $200 million)
  7. tbh (less than $100 million)
  8. Redkix (less than $100 million)
  9. Parse ($85 million)
  10. Atlas Solutions (between $50 million and $100 million)

With the number of diverse companies Facebook owns it questions their real identity as a social media company. Hopefully, Facebook’s rebrand will bring a lot of changes to the companies culture and values during this time of backlash. Some questions also come up asking if Meta will be the new name when logging into Facebook. The simple answer is no, Meta acts as an umbrella company that will be considered a group of companies. In the past when referring to Facebook, many saw the company as a group such as Instagram, WhatsApp, and Oculus. However, with the new name change, Facebook will be separate from Meta but still linked to the parent company.

Source:
https://www.cnet.com/tech/computing/metas-chief-of-metaverse-tells-us-what-the-future-holds-for-the-former-facebook/
https://www.titlemax.com/discovery-center/lifestyle/everything-facebook-owns-mergers-and-acquisitions-from-the-past-15-years/

Categories: Tech&Innovation