We're expected to learn more at Facebook's Connect conference next week.
It seems like Facebook is looking to rebrand and change its name, in an attempt to distance itself from the investigations it is currently facing. According to a report from The Verge, Facebook's new identity will be a reflection of the new metaverse it is aiming to create, and while the social media platform is expected to maintain its branding, the change will see Facebook, Instagram, Whatsapp, and Oculus under a new parent company.
According to the report, the name change is still being kept under wraps, with various senior members at the tech company still unaware of what the company is set to be named.
While this will be a pretty significant move for the company, it isn't the first time we've seen this happen in the industry. Back in 2015, Google rebranded itself and its divisions under a parent company called Alphabet.
There's no word on just how long Facebook has been planning this name change, but the report does state that the CEO Mark Zuckerberg does intend to talk about the branding change at Facebook's Connect conference next week, on October 28.