Facebook reportedly planning to change its corporate name

In an effort to disassociate itself from recent scandals Facebook is reportedly planning to change its company name as soon as next week.

According to The Verge, Facebook’s app and website will remain untouched, but the parent company will rebrand in the same way as Alphabet, the holding company behind Google.

Sources with direct knowledge of the situation say that Facebook’s CEO Mark Zuckerberg plans to discuss the name change during the company’s annual Connect conference on October 28.

The new name change will reportedly represent the company’s aspirations to grow outside social media, which has been plagued by critics and scandals in recent years.

According to CNN “the name change may reflect Facebook’s direction. The metaverse refers to efforts to combine virtual and augmented reality technologies in a new online realm.”