Facebook today announced that it is renaming the company as “Meta”. Meta will include the existing product brands including Facebook (social network), Instagram, Oculus, Messenger and more.
Meta’s products include:
Early this week, Facebook announced that its daily active users (DAUs) were 1.93 billion on average for September 2021, an increase of 6% year-over-year and the monthly active users (MAUs) were 2.91 billion as of September 30, 2021, an increase of 6% year-over-year.
Company’s corporate structure is not changing, however, how it reports the financials will. From next quarter, Meta will report on two operating segments: Family of Apps and Reality Labs. Meta will also start trading under the new stock ticker, MVRS, on December 1.
Mark Zuckerberg commented the following on Meta:
Our mission remains the same — it’s still about bringing people together. Our apps and their brands aren’t changing either. We’re still the company that designs technology around people.
But all of our products, including our apps, now share a new vision: to help bring the metaverse to life. And now we have a name that reflects the breadth of what we do.
From now on, we will be metaverse-first, not Facebook-first. That means that over time you won’t need a Facebook account to use our other services. As our new brand starts showing up in our products, I hope people around the world come to know the Meta brand and the future we stand for.