Facebook announced the company has changed its name to "Meta" to capture the company's ambition to move beyond social media and expand into the virtual world. The name change will result in its stock ticker changing from FB to MVRS beginning Dec. 1.
“Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started,” Meta CEO Mark Zuckerberg said.
“Our hope is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers,” Zuckerberg said in a statement on Thursday.
Zuckerberg revealed that the company is investing $10 billion in the development of the metaverse. “We believe the metaverse will be the successor to the mobile internet,” Zuckerberg said.
Source: cnbc.com
