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Facebook Rebrands To Meta

October 28, 2021

Today at Connect 2021, CEO Mark Zuckerberg introduced Meta, which brings together Facebook's apps and technologies under one new company brand. Meta's focus will be to bring the metaverse to life and help people connect, find communities and grow businesses.

The metaverse will feel like a hybrid of today's online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can't be together and do things together you couldn't do in the physical world. It's the next evolution in a long line of social technologies, and it's ushering in a new chapter for the company. Zuckerberg shared more about this vision in a founder's letter.

The 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. The company 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.

Facebook's corporate structure is not changing as Meta. However, how it reports on financials will. Starting with results for the fourth quarter of 2021, the company plans to report on two operating segments: Family of Apps and Reality Labs. Meta also intends to start trading under the new stock ticker that the company reserved, MVRS, on December 1. Today's announcement does not affect how the company uses or shares data.

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