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Report: Facebook will announce a name change next week

The Verge website reported that the social network wants to rebrand itself in the wake of recent scandals and congressional investigations.

According to the report, the company's CEO Zuckerberg will announce this next Thursday or earlier. Facebook declined to comment.

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• Facebook

• Mark Zuckerberg

Yinon Ben Shoshan

Wednesday, 20 October 2021, 08:58 Updated: 10:48

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In the video: A Facebook worker who leaked testifies in Congress (Photo: Reuters)

Social media giant Facebook plans to rebrand itself using a new name it will unveil next week - The Verge website reported tonight (Wednesday), citing a source directly involved in the matter.

According to the report, Facebook CEO Mark Zuckerberg will reveal the name change at the company's annual Connect conference next Thursday, but it may be revealed earlier.

According to the report, the company's new name may be related to the word Horizon in English. Facebook recently changed the name of the VR gaming platform it develops from Horizon to Horizon Worlds, in response, Facebook said it did not respond to "rumors or speculation" the

report was released at a time when the company is facing growing criticism from the US government and congressional investigations. The Verge reported that the move was intended to position the social network as one of several parent company products, which also owns apps like Instagram and WhatsApp.

Trying to rebrand the company.

Zuckerberg (Photo: Reuters)

Facebook will not be the first Silicon Valley company to change itself to expand its services.

Google established Alphabet as a holding company in 2015 to expand beyond its search and advertising business and oversee various other ventures.

In addition, according to the report, the rebranding will also reflect Facebook's focus on building the Matabars, an online world where users can move and communicate in a virtual environment.

As part of the move, Facebook has invested a lot of resources in developing virtual reality and augmented reality technology, and it plans to connect its users - about three billion - through several devices and apps.

Yesterday it announced an intention to create ten thousand jobs in the EU over the next five years to help build the Matabars.

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