The company will now focus on building a metaverse.
During the company's annual Connect conference today, CEO Mark Zuckerberg revealed Facebook's new name and explained why they decided to set up a new brand.
"Right now, our brand is so tightly linked to one product that it can't possibly represent everything that we're doing today, let alone in the future," Zuckerberg said. "Over time, I hope that we are seen as a metaverse company, and I want to anchor our work and identity on what we're building toward."
The founder said that the long-term goal is to build a metaverse that provides the feeling of being somewhere else. They want to attract 1 billion people within the next decade.
"In the metaverse, you'll be able to do almost anything you can imagine -- get together with friends and family, work, learn, play, shop, create – as well as completely new experiences that don't really fit how we think about computers or phones today," Zuckerberg noted. "In this future, you will be able to teleport instantly as a hologram to be at the office without a commute, at a concert with friends, or in your parents' living room to catch up."
What do you think about the changes? Will the new brand help the company build a more trusted environment?