Facebook CEO Mark Zuckerberg announced on Thursday that the company would be renamed Meta and would begin focusing on the metaverse rather than its social media platforms.
Zuckerberg revealed the details at the annual Facebook Connect conference. Meta will start trading under the new ticker “MVRS” on December 1.
“We’re going to be Metaverse first, not Facebook first,” Zuckerberg said. However, its apps and their brands will not be affected by the corporate name change, he clarified.
The announcement comes just days after the company announced it would begin disclosing the financial results of its massive investment in augmented reality and virtual reality labs, as part of its effort to create a “metaverse,” or shared virtual reality environment that multiple users can access at the same time.