<p><strong>Facebook has changed its name to Meta in a major rebrand as the social media giant continues to face an unprecedented scrutiny over its business practices.</strong></p>
<p>The company said the new name would better “encompass” what it does now.</p>
<p>The firm has made clear its future goal to create an online world, called Metaverse, where people can work, game and communicate in a virtual environment, using VR headsets.</p>
<p>“We believe the metaverse will be the successor to the mobile internet. We’ll be able to feel present – like we’re right there with people no matter how far apart we actually are,” founder Mark Zuckerberg said. “We’ll be able to express ourselves in new joyful, completely immersive ways.”</p>
<p>He added: “The best way to understand the metaverse is to experience it yourself.”</p>
<p>The name change announcement was made at Facebook’s annual developer conference, the BBC reported.</p>
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<p>The firm has come under fire and has been the subject of negative news coverage after a former employee leaked damaging documents showing the company knew its brands such as Instagram had negative impact on young people but focused more on profit-making.</p>
<p>The rebrand is expected to position the flagship app (Facebook) as one of several products under a parent company, Meta, following in the footsteps of Google which set up a holding company, Alphabet, in 2015.</p>

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