Meta, a “social technology” company, is now the parent company of Facebook

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Mark Zuckerberg spoke at the Facebook Connect 2021 conference and revealed Facebook’s new parent company name, Meta. Zuckerberg says Meta is now a “social technology” company and that it brings together all of its apps and technologies under one new large entity.

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The focus of Meta is to bring the metaverse “to life and help people connect, find communities and grow businesses.” Zuckerberg claims that the metaverse “will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world.”

Meta believes that the metaverse will let you share experiences with friends and family even when you’re not physically together. The company says this is the next evolution in social. Here’s what the company’s press release had to say.

Our annual Connect conference brings together augmented and virtual reality developers, content creators, marketers and others to celebrate the industry’s momentum and growth. This year’s virtual event explored what experiences in the metaverse could feel like over the next decade — from social connection, to entertainment, gaming, fitness, work, education and commerce. We also announced new tools to help people build for the metaverse, including Presence Platform, which will enable new mixed reality experiences on Quest 2, and a $150-million investment in immersive learning to train the next generation of creators.

Our corporate structure is not changing, however, how we report on our financials will. Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs. We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Today’s announcement does not affect how we use or share data.

Meta

Given the immense pressure Facebook faces between the government and users, it will be interesting to see how this new direction goes for the company.

What do you think of this name change? Please share your thoughts on any of the social media pages listed below. You can also comment on our MeWe page by joining the MeWe social network.

Last Updated on October 28, 2021.

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