Multinational technology company, Facebook, is planning to rebrand itself by changing its name, The Verge announced on Tuesday. 

The tech blog reported that the company’s Chief Executive Officer Mark Zuckerberg might reveal the new name at the company’s annual Connect conference on October 28. However, there is a possibility that this could happen sooner. 

The rebranding will position the flagship app as one of many products under a parent company that will oversee brands such as Instagram and WhatsApp, according to the report. 

The social media giant’s move reflects its focus on establishing the metaverse, which is an online world where people can utilize various devices to move and communicate in a virtual environment.

In response, Facebook stated that it does not comment on “rumor or speculation.”

The news comes at a time when Facebook received scrutiny from whistleblower, Frances Haugen, for supposedly exacerbating body image issues among the youth, and spreading violence, hate, and misinformation. Ms. Haugen has also filed a complaint and accused the company  of misleading investors. 

It can also be recalled that Netizens were baffled when Facebook, along with Instagram, and WhatsApp went offline across the globe. Users had a hard time accessing their social media platforms which were left crippled for six hours. 

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