Twitter Inc (TWTR.N) CEO Jack Dorsey on Thursday tweeted out a different definition 'referring to itself or to the conventions of its genre self-referential.' Zuckerberg said the new name, coming from the Greek word for 'beyond,' symbolized there was always more to build. 'Without a doubt, (the Facebook name) is definitely damaged and toxic,' he said. The plans to phase out the Facebook name even from products like video calling device Portal show the company is eager to prevent the unprecedented scrutiny from hurting the rest of its apps, said Prashant Malaviya, a marketing professor at Georgetown University McDonough School of Business. 'While it'll help alleviate confusion by distinguishing Facebook's parent company from its founding app, a name change doesn't suddenly erase the systemic issues plaguing the company,' said Mike Proulx, research director at market research firm Forrester. Federal Trade Commission has also filed an antitrust lawsuit alleging anticompetitive practices. The company's reputation has taken multiple hits in recent years, including over its handling of user data and its policing of abuses such as health misinformation, violent rhetoric and hate speech. In 2019 it launched a new logo to create a distinction between the company and its social app. The name change, the plan for which was first reported by the Verge, is a significant rebrand for Facebook, but not its first.

The company will also stop using the Oculus branding for its VR headsets, instead calling them 'Meta' products. The division will now be called Reality Labs, its head Andrew 'Boz' Bosworth said on Thursday. In an interview with tech publication the Information, Zuckerberg said he has not considered stepping down as CEO, and has not thought 'very seriously yet' about spinning off this unit.

This year, the company created a product team in this unit focused on the metaverse and it recently announced plans to hire 10,000 employees in Europe over the next five years to work on the effort. On Thursday, it unveiled a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up 'Like' logo with a blue infinity shape.ДЇacebook shares closed 1.5% higher at $316.92 on Thursday.ДЇacebook said this week that its hardware division Facebook Reality Labs, which is responsible for AR and VR efforts, would become a separate reporting unit and that its investment in it would reduce this year's total operating profit by about $10 billion. The company said in a blog post that it intends to start trading under the new stock ticker it has reserved, MVRS, on Dec. Zuckerberg earlier this week said the documents were being used to paint a 'false picture.' Senate subcommittee and lawmakers in the UK's Parliament. Haugen has in recent weeks testified before a U.S. In the latest controversy, whistleblower and former Facebook employee Frances Haugen leaked documents which she said showed the company chose profit over user safety. The tech giant, which reports about 2.9 billion monthly users, has faced increasing scrutiny in recent years from global lawmakers and regulators. It said it would not change its corporate structure. The company, which has invested heavily in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand.

'Right now, our brand is so tightly linked to one product that it can't possibly represent everything that we're doing today, let alone in the future,' said Zuckerberg. It refers broadly to the idea of a shared virtual realm which can be accessed by people using different devices. The metaverse is a term coined in the dystopian novel 'Snow Crash' three decades ago and now attracting buzz in Silicon Valley.

Virtual families 3 facebook