In an effort to separate itself from various scandals, Facebook wants to rebrand itself with a new identity next week.
The social networking site, Facebook, will most likely keep its name, but Facebook Inc., which also owns Instagram and Whatsapp, will rebrand.
According to The Verge, Facebook CEO Mark Zuckerberg wants to disclose the parent company’s new name on October 28 at the company’s annual Connect conference. This name change, on the other hand, may be revealed sooner.
The name change suggests that the Facebook social media app will become one of the numerous products managed by the parent firm, which also manages Instagram, WhatsApp, Oculus, and other services.
It’s primarily intended to protect the company’s flagship media brand from potential negative press, such as the recent whistleblower testimony from a former employee.
However, Facebook stated that it does not comment on rumors or speculation.
This name change might greatly improve the reputation of the California-based organization, which has faced serious setbacks in recent years.
The corporation was accused of assisting the dissemination of false information during the 2016 US presidential election, prompting a series of legislative hearings and policy revisions, including the introduction of third-party fact-checkers and increased transparency in political advertising.
In 2019, the Federal Trade Commission fined Facebook $5 billion for allowing Cambridge Analytica, a British business, to acquire 87 million US profiles for political advertising data. This information was stated to have come from a reliable source. This information was said to have been used in the 2016 campaign of former US President Donald Trump.
Frances Haugen, a former Facebook employee, recently revealed information to the Wall Street Journal nicknamed the “Facebook Files.” These documents show that Facebook encouraged discord in order to keep users on the platform.
It also revealed that Instagram was aware that it was harming young girls’ body image, and that the firm tried to come up with strategies to appeal to toddlers by ‘exploring playdates as a growth lever.’
Facebook plans to distance itself from its poor reputation by altering its company name.Click here to give us five stars rating!