Facebook To Change Its Name?

New Delhi: Social media giant Facebook may rebrand itself with a new name next week, according to a report in The Verge on Tuesday.

Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on October 28, but it could be unveiled sooner, the Verge reported citing sources with direct knowledge of the matter.

Facebook, however, said it does not comment on “rumor or speculation.” The news comes at a time when the company is facing increasing US government scrutiny over its business practices. Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook.

The rebranding would position Facebook’s social media app as one of many products under a parent company, which will also oversee groups like Instagram, WhatsApp, Oculus and more, the Verge report added. The report also said that the new name is a closely-guarded secret within its walls and not known widely, even among its full senior leadership.

The move to rebrand will also reflect Facebook’s focus on building the so-called Metaverse, an online world where people can use different devices to move and communicate in a virtual environment, according to the report.