Facebook Inc. Transformed Into Meta, Here’s What You Need To Know

In October 2021, Mark Zuckerberg as CEO of Facebook Inc. announced the change of the parent company’s name to Meta. This decision immediately became the talk of the world.

Mark’s decision to change the name of the parent company group is expected to have an impact on other service products, such as Facebook, Instagram, Messenger, and Whatsapp applications.

Facebook Inc. Transformed Into Meta

So what are the interesting facts that you need to know about changing the Facebook name to Meta? Big Alpha summed it up for you.

1. Name of new parent company

Yes, Meta officially replaces Facebook Inc as to the parent of various application services such as Facebook, Instagram, to Whatsapp. Quoted from the official Facebook Inc page (with the URL unchanged), Meta focuses on bringing the metaverse to life and connecting people, communities, and helping businesses grow.

The term metaverse was echoed by Mark when he released the new name Meta. Metaverse makes the experience of connecting between humans in the digital world even deeper, even though we can’t physically face to face.

Meta itself is a Greek word that means ‘beyond’. Mark views, this name represents his vision that the future can be built and exceeds the achievements that have been made by humans today.

2. Reason for changing the name

Mark Zuckerberg as CEO explained that the name change was made because the company wanted a new identity that was in line with Facebook Inc’s vision. Through this change, Mark also introduced the term metaverse as a digital experience for users of Facebook Inc. services.

In addition, Mark also wants to rebrand a group of companies whose business is growing. So far, Facebook Inc. has been closely associated with Facebook application service products as social media. In fact, the business line of the Facebook Inc. business group is very broad. Therefore, Mark wanted a new brand that could represent all lines of the business equally.

3. Change the stock code to MVRS

So far, Facebook Inc. has been listed on the United States stock exchange with the issuer code FB. With the change of name to Meta, the stock code also changes. Mark decided to change the name of his parent company to MVRS as of December 1, 2021.

4. Leaving enemies

The change in the name of Facebook Inc to Meta turned out to be a legal enemy. Mark Zuckerberg has the opportunity to pay a fairly expensive fee because the Meta name has already been registered by another technology company.

It is known, Zach Shutta had already registered his PC startup under the name Meta. But at this time, Shutt is willing to withdraw from using the Meta name on the condition that Mark Zuckerberg is willing to pay US $ 20 million or equivalent to Rp. 288 billion.

If you are reluctant to pay, then Mark Zuckerberg needs to fight at the court.