Why Facebook supposedly wants to change its name

Menlo Park (dpa) – The Facebook brand is one of the ten most valuable in the world. In the current “Brandz” ranking by Kantar, the Internet company is in 6th place with a brand value of just under 227 billion dollars, with market observers from Interbrand Facebook is in place 10.

But the brand has suffered a lot in the past few months. Perhaps so much that company founder Mark Zuckerberg will take a radical step in the coming week to convey the far-reaching ambitions of the group more clearly to the outside world.

The technology portal “The Verge »In any case, reported on Wednesday that the Facebook group wanted to change its company name. In order to focus on the virtual world “Metaverse”, Zuckerberg will announce the name change at the “Facebook Connect 2021” conference next week. The change should signal the ambition of the tech giant to be known for more than just social media.

There is no confirmation for the scoop of “The Verge”. “We do not comment,” said a Facebook spokesman for the German press agency. A denial sounds different. Even within the top management, only a small group was inaugurated, writes “The Verge”. It is all the more astonishing, however, that someone from this close circle spoiled the show for CEO Zuckerberg in the coming week.

The Facebook group not only includes the actual Facebook service, the as a smartphone app has a blue and white logo, but also the messenger service WhatsApp and the photo and video service Instagram. Oculus is also part of the Facebook empire. The division manufactures virtual reality glasses, including the Oculus Rift and Oculus Quest lines. So far, these different brands have been overshadowed by Facebook. Only Instagram appears independently in Kantar’s “Brandz” list 18. The market value is still just under 83 billion.

According to the report by “The Verge”, the renaming of the group would probably be the blue Facebook app position as one of many products under a parent company that oversees Instagram, WhatsApp, Oculus and other areas.

Facebook would not be the first Silicon Valley corporation to change its company name if the direction changes of the company expanded. For example, after the introduction of the first iPhone in the year 2007, Apple deleted the word “computer” from the company name. At that time, the iPod music player alone was making more sales than the Macintosh computers.

Google reorganized itself in the year 2015 under the umbrella of a holding company called Alphabet. The Internet company wanted to signal that it not only operates a search engine and a cloud business, but also has ambitions for driverless cars, health solutions and other high-tech areas. And Snapchat renamed itself 2016 Snap Inc. At the same time, the company began to call itself a «camera company».

By changing the name of the company, Facebook would underscore its ambitions that go beyond conventional social networks. Months ago, for example, Zuckerberg announced the creation of a «Metaverse». This is supposed to be a virtual environment as described in science fiction novels. Zuckerberg believes that this is no longer just a dream due to the rapid development of hardware and glasses for augmented reality (AR) and virtual reality (VR). On Monday, the company announced that it would create new, highly qualified jobs in the European Union 10 000 over the next five years create to build the virtual world «Metaverse».

A motive for the renaming could also be the desire to improve the tarnished image of Facebook. Whistleblower Frances Haugen, for example, accuses the company of having brushed aside concerns raised internally, according to which Instagram worsens the problems of every third young girl with their own body image and even triggers suicidal thoughts in some young people. The allegations of the former Facebook manager Haugen reinforce Facebook critics in the US Congress, who are campaigning for a break-up of the group.

Facebook is preparing for the fact that after the first wave of publications, the based on the internal papers owned by Haugen, a second batch will come to the public. In the past six weeks you have seen how documents can be incorrectly characterized, wrote the Facebook press office on Twitter. “Obviously, not every employee at Facebook is a manager; not every opinion is the company’s position. »

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