Facebook Meta name update: In a major development, Facebook founder Mark Zuckerberg on Thursday announced that his company will have a new name, Meta, which brings together its 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.

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"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 our company," Mark shared more about this vision in a founder’s letter.

"Our annual Connect conference brings together augmented and virtual reality developers, content creators, marketers and others to celebrate the industry’s momentum and growth," the company further said.

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," Facebook said,

You can watch the full Connect keynote and learn more about how the metaverse will unlock new opportunities at meta.com. You can also learn more about our work over the past several months to develop the Meta brand on our design blog.

"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. This announcement does not affect how we use or share data," the brand noted.