Rome, 28 October 2021 – Facebook change its name, it will be called Meta. “There is one more thing I want to talk to you about today.” With these words Mark Zuckerberg announces the change of name of Facebook, which “from today is Meta, inspired by the Greek ‘beyond. I love the study of classics. The name Meta for me symbolizes the fact that there is always something to build, there is always something beyond. “We are at the beginning of the next chapter of the internet and the next chapter of our society,” says Zuckerberg. Facebook will be trading on Wall Street with the new ticker ‘MVRS’ from December 1st. The new ticker reflects the company’s name change to Meta to reflect the central role of the metaverso. “It’s time to have a new brand for our society, which includes everything we do. I am therefore proud to tell you that from today the name of our company will be Meta ”, explained the CEO of Facebook, during the opening of the annual conference of the company. During the ‘Connect 2021’ conference, Zuckerberg said the group, with its technologies and applications, “will focus on bringing the metaverse into everyday life, helping people connect, find communities and opportunities for growth. “. According to the purposes of the social network, this ‘metaverse’ will be a ‘hybrid’ between the current online social experiences, expanding them on three-dimensional or even “projecting them in the physical way”. The company will also change the Borsa code from the current ‘FB’ to ‘MVRS’, all with effect from 1st December. The reaction of investors is apparently enthusiastic: just over an hour after the end of the session on Wall Street, the Facebook stock gallops by over 3.5% at $ 323.
The controversies
Corporate name changes are rare but there are precedents, such as Google which in 2015 was ‘restructured’ under the Alphabet holding. The malignant, however, observed how the change is more reminiscent of that of the tobacco giant Philip Morris which in 2001 became Altria. Society is grappling with what many believe to be the worst crisis of its history. The revelations of the Facebook Papers – thousands of pages of published internal documents – sparked a shower of controversy by telling a Facebook in which profits were put above everything, even the safety of friends. A Facebook aware of the problems of its platform and how its algorithm has exacerbated divisions and hatred. Revelations that have brought the social media back into the crosshairs of the American authorities, including the SEC, and that have fueled requests for one of its stews.
Metaverso
The new name, according to Zuckerberg, “reflects the centrality of the metaverse and best captures the reality of Facebook, which includes Instagram, Messenger, Quest VR, the Horizon VR platform and more. We are seen as a social media but in our DNA we are a company that builds technology to connect people. I hope that over time we will be seen as a company of metaverso“, highlighted the CEO, predicting that the metaverse will reach a billion of people in the next decade. It will be a place where people will be able to interact, work and create products and content in a new ecosystem that could create millions of jobs for creators. “We are at the beginning of the next chapter of the internet and the next chapter of our society”, added Zuckerberg, explaining that “Facebook is one of the most used products in history. It is an iconic brand among social media but increasingly it does not include everything. what we do. I want to anchor our work and our identity to what we build going forward “.
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