NEW: Facebook introduces Meta: Zuckerberg announces major restructuring amid scrutiny about internal practices.
While Facebook will still be the name for the blue-colored social media app, Meta will be the umbrella company that also includes Instagram and WhatsApp.Facebook has a new corporate parent with a new name: Meta.corporate structure to help focus on what's next for the internet beyond social media.
The rebrand comes as Facebook faces a deluge of news stories and public scrutiny based on thousands of internal corporate documents obtained by news organizations, including NBC News. The documents, originating with former Facebook product manager and whistleblower Frances Haugen,The change won't affect the name of the company's signature blue-colored app, which will keep the name Facebook. But it will mean a new identity for the corporate umbrella that also owns Instagram and WhatsApp.
The name is a nod to the idea of the"metaverse," a term for a potential future internet that emphasizes virtual spaces. Zuckerberg said the metaverse will be the internet's"next frontier." "Facebook is one of the most-used products in the history of the world. It is an iconic social media brand, but increasingly, it just doesn’t encompass everything we do," he said in an online presentation.Zuckerberg, who has a longtime interest in studying
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