Facebook looking to change its name as scrutiny damages reputation
Social media behemoth Facebook intends to rebrand with a new name, it has been reported.
A rebrand will be announced next week, according to US tech website the Verge, which cited a source with direct knowledge of the matter.
The name change will be addressed at Facebook’s annual Connect conference on October 28 by its CEO Mark Zuckerberg, according to the Verge. An announcement may come even sooner.
Facebook chief executive officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on Oct. 28, but it could be unveiled sooner, the Verge reported.
Facebook would likely be positioned under a parent company overseeing groups including Instagram and WhatsApp, it was reported.
Facebook said it would not comment on “rumor or speculation.”
It comes as Facebook has faced questions over its algorithm and workplace culture, with former employee and whistleblower Frances Haughen testifying about the company before Congress.
According to the tech website, the new name is a “closely-guarded secret within its walls.” Even the full senior leadership team is not privy to the details.
However, it was reported that the name may be linked to Horizon, the name of an anticipated VR version of Facebook.
Google restructured under a holding company named Alphabet in 2015, in a move to highlight its capabilities expanded beyond its initial search engine.
Facebook has been accused of focusing on profit above user safety in recent weeks.
Facebook and Instagram users showing hostility towards women online are more likely to have pages recommended to them that show misogynistic content, it was reported.
A BBC Panorama investigation found these users often had recommended content that referenced sexual violence, unsettling memes about sex acts and content condoning gendered violence.
Whistleblower Haughen has also claimed the platform prematurely turned off safeguards designed to tackle misinformation after Joe Biden won the US Presidential election against Donald Trump.
She said this contributed to the invasion of the US Capitol on January 6.