Mark Zuckerberg changes Facebook’s name to Meta

WHY IN THE NEWS?

• Facebook is now called Meta, in a rebrand that focuses on building the “metaverse,” a shared virtual environment that it bets will be the successor to the mobile internet.
• The name change, the plan for which was first reported by the Verge, is a significant rebrand for Facebook, but not its first. In 2019 it launched a new logo to create a distinction between the company and its social app.
• The name change comes as the world’s largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions and the policing of abuses on its services.