As per the ongoing reports, social media giant Facebook is in plans to rebrand itself and change the name next week as per the report from the Verge. Facebook Chief Mark Zuckerberg is in plans to announce the same during the Annual Connect Conference which is scheduled to take place on October 28th and the name would be changed at a later date. Facebook hasn't made any announcement about the same for now and there are speculations that Mark wants to make it official through the conference. Facebook has been facing a scrutiny over the business practices in USA after which the call was taken told a source.
There was a huge rise of anger in Congress against the social media giant. There are also talks that Facebook's app will be branded under the parent company along with Instagram, WhatsApp, Oculus and others as per the report from the Verge. When it comes to expanding the services, it would not be suggestible to change the names told analysts. Google floated Alphabet Inc in 2015 to expand their search and their advertising business. Facebook invested huge amounts on Virtual Reality (VR) along with Augmented Reality (AR) to connect with three billion users through the apps and devices. Facebook also announced to create 10,000 new jobs in the European Union in the next five years.
By Siva Kumar