Facebook is changing its name on October 28; what will it be

Social media giant Facebook Inc is planning to rebrand itself with a new name next week, a report said citing a source with direct knowledge of the matter.

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 as well.

The news comes at a time when the company is facing increasing U.S. government scrutiny over its business practices. Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook.

Read more:
Mark Zuckerberg sued. Again!

The name change will bring Facebook’s app under a parent company, which will also oversee Facebook’s services, such as WhatsApp, Instagram, and Oculus. And beyond these services, Facebook is now ambitiously moving towards building consumer hardware, such as the Portal smart display or the
recently-introduced AR Glasses, in partnership with Ray-Ban.

Facebook has invested heavily in virtual reality (VR) and augmented reality (AR) and intends to connect its nearly three billion users through several devices and apps.

It’s not uncommon in the Silicon Valley for companies to change their names as they bid to expand their services.

Google established Alphabet Inc as a holding company in 2015 to expand beyond its search and advertising businesses, to oversee various other ventures ranging from its autonomous vehicle unit and health technology to providing internet services in remote areas.

Read more:
What is Facebook hiding from you