Why is Facebook Changing its Name to Meta?

As it came to a sudden shock during a Facebook event, its founder Mark Zuckerberg announced rebranding their platform to Meta. Talking about Facebook name change Meta, Mark explained that the company is linked to more than one product, so to bring out all its products under one umbrella, it has been renamed to Meta platform or Meta. 

Understanding Meta

As explained by the company's press release, we will try to scribble down why the company has renamed its platform and what Meta symbolizes?

The company wants to look into the future technology and beyond it now wants to move above a social platform.

The company is currently doing much more than managing Facebook. It has other popular social media platforms and is working on Artificial Intelligence. To remove the company's image stuck to only a single platform, now the company wants to be known to be working in areas other than only one social media platform. Meta provides an umbrella to the vision of the company.

The company now will focus on two different segments: their social media applications and their future technologies. Facebook now wants to focus on both these segments, thus requiring a rebranding. These are the reasons why Facebook name change to Meta. Overall, combining two segments will be known by Metaverse.

Expert Opinion - Why did Facebook Change its Name to Meta? 

Many experts have kept a keen eye on this event. Experts have their own explanation for rebranding Facebook to Meta. Three major reasons as pointed out by them are:-

• The first reason for rebranding is that Facebook has faced many legal suites regarding violation of privacy issues in recent times. To distract people from negative opinions regarding safety and privacy issues, Facebook has rebranded.
• Second reason explained by experts for rebranding Facebook into meta is in the downgrading of the global stock of Facebook. Facebook may have rebranded its name to Meta to build trust in its investors and stockholders.
• Third and the major reason for this is changing its image from Facebook to meta is that the company wants people to come out of a common notion that Facebook is only a social media platform operating company. The company wants people to understand that it is very serious about future technologies and is looking forward to building and contributing to future technologies.

Is Rebranding a Good Idea?

As explained by many experts, most of them are positive about this rebranding of Facebook to meta. As explained by them, this will help the company in many ways. It will prove to be a healer to the negative feedback about the company and will heal the company's brand name. It will build trust in the stockholders and investors of the company. Facebook name change meta will help Facebook bring its two major segments: future technologies and social media platforms, under one roof and project a serious image.

Have other Big Brands Done this before, or is it the First Time?

This is not the first time a big brand has renamed itself. Google itself has limited itself from ALphabet, its parent company, in 2015, and today we all know where Google stands.