Popular social media company Facebook may rebrand itself, reports have said.
According to Verge, chief executive officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on October 28, but the name could be announced earlier.
However, Facebook has refused to comment on the matter.
The company has been facing increasing scrutiny by the US government over its business practices. Rebranding at this time would position it a product under a parent company, much like Google and Alphabet.
The parent company will oversee, besides Facebook, other groups like Instagram, WhatsApp, Oculus and others, as per the Verge report.
The report added that this rebranding move will also reflect on Facebook’s focus on building metaverse, an online world where people can use different devices to move and communicate in a virtual environment.
The company has announced it will create 10,000 jobs over next five years in the European Union to help build the metaverse.
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