As part of a major rebrand, Facebook Inc has changed its corporate name to Meta (Meta Platforms, Inc.), in an effort to include its virtual reality vision for the future. Facebook CEO Mark Zuckerberg, unveiled his plans to build “Metaverse”, an online world where people can game, work and communicate in a virtual environment.
- The word “Meta” comes from the Greek word meaning “beyond”.
- The company has also unveiled its new sign, a blue infinity shape, at its headquarters in Menlo Park, California. The new sign replaces its thumbs-up “Like” logo.
i.The branding ‘Facebook’ will be removed from Whatsapp, Instagram, Oculus, Workplace, Portal, Novi and other places.
ii.The names of the social media platforms like Facebook, Instagram, Messenger and Whatsapp, which are now under meta are not changed.
What is Metaverse?
i.Metaverse is a set of virtual spaces which will allow the user to create and explore with others who are not in the same physical space.
ii.The term ‘Metaverse’ was first coined in the 1992 novel Snow Crash by Neal Stephenson.
iii.Meta has announced a 50 million USD investment in global research and program partners to ensure the metaverse products are developed responsibly.
Features of Meta:
i.Meta, A Social Technology Company, will bring together all the apps and technology of facebook under one brand ‘Meta’.
ii.Meta will focus on implementing metaverse and help people connect, find communities and grow businesses.
Recent Related News:
i.Indifi, technology-based lending platform has partnered with Facebook India to launch 1st of its Kind Small Business Loans Programme. It will provide loans worth INR 5 lakh to 50 lakh for Small Businesses advertising in Facebook’s Platform.
ii.The loans will bear an interest rate of 17-20% and 0.2% additional reduction in the interest rate for the businesses owned by Women either partly or Wholly.
About Meta Platforms, Inc.:
Meta Platforms, Inc. was formerly known as Facebook, Inc.(launched in February 2004) until October 28, 2021.
Founder, Chairman & CEO– Mark Zuckerberg
Headquarters– Menlo Park, California, United States of America