Facebook: Facebook is rebranding as Meta

Social Media and advertising giant Facebook have rebranded its company name as ‘Meta.’ The company’s top social media website will retain its name as Facebook. Its subsidiaries Instagram and WhatsApp will also keep their names. The company revealed that it would start trading under the stock ticker MVRS from the first of December.

The firm says it is changing to the new name because it is now focusing on the metaverse. Metaverse is a term for a virtual world with shared, persistent, 3D virtual spaces. The company also revealed that it would be spending $10 billion on Facebook Reality Labs, software, metaverse division creating AR and VR hardware, etc. It also says it plans to bring the metaverse in VR, AR, smartphones, and computers.