On october 28, the company's CEO, Mark Zuckerberg, will appear at the company's annual Connect conference. The facebook app will be renamed Blue, and it will be one of several products managed by a parent firm that also manages Instagram, WhatsApp, Oculus, and other services. A spokeswoman for facebook declined to comment on the story.

Facebook aspires to be a "Meta wares firm."

Facebook now employs over 10,000 people to develop consumer devices such as augmented reality glasses, which Zuckerberg hopes will ultimately be available everywhere, just like smartphones. In July, he stated that we will effectively change from those who regard us largely as a social media company to a Metawares firm over the next several years on the edge.

The rebranding of Zuckerberg will assist to distinguish future work from the current intensive surveillance of how his social media network runs. Former employee Francis Hogan, who later became a whistleblower, recently revealed several confidential documents testified about them.

Regulators in the united states and others are trying to break up facebook, and public trust in the company's operations is eroding. facebook isn't the only well-known technological business to alter its name as its objectives broaden. It was rebuilt in 2015 under a holding company called google Alphabet, which was not only a search engine but also a broader relationship with companies that create self-driving cars and healthcare technologies. 

The new facebook company's identity is a highly kept secret within the company's gates, and even its whole top leadership is unaware of it. Horizon, the yet-to-be-released VR version of Facebook-Meets-Roblox that the business has been building over the past few years, could be the inspiration for the moniker. After Horizon Worlds demonstrated the version for facebook Workplace Collaboration, the processor was renamed Horizon Work Rooms.

Facebook is laying the groundwork for a new brand identity.

Apart from Zuckerberg's remarks, facebook is continuing to build the framework for a bigger emphasis on next-generation technology. It formed an exclusive Metawares group last summer. Andrew Bosworth, President of AR & VR, will be promoted to Chief Technical Officer, it was just reported. facebook also revealed plans a few days ago to hire 10,000 more people in europe to work on Metawares.

Metawares will be a huge focus, and I believe it will be a big part of the next chapter in the way the Internet develops after mobile Internet, Zuckerberg told Casey Newton on the eve of the conference this summer. I believe this will be our company's next great phase as well, with a focus on this area.

The problem is that facebook has been extensively advertising the concept of Metawares in recent weeks, which is not yet widely understood. Neil Stephenson, a science fiction novelist, created the word to depict a dystopian, virtual world escape from reality. It is now widely acknowledged as one of the world's largest and most contentious corporations, which should explain why its virtual world should plummet.