Facebook is planning to completely change its company name next week as it shifts its focus towards building the futuristic 'metaverse'.
According to insiders, Facebook founder Mark Zuckerberg plans to unveil a name change at the company's annual conference next week.
Speculation around the new name is rife, but many think Facebook will follow in the footsteps of Google by placing its apps such as WhatsApp, Instagram, and its namesake social network under a new parent company. (Google renamed itself to Alphabet in 2015).
The new name is likely to have something to do with the tech giant's ambitious plans to build the 'metaverse', a sort of 3D internet that you can physically enter and walk around with VR and augmented reality technology.
This has led some to speculate that new name could be 'Horizon', the name of a VR virtual world that Facebook has been building for some years.
Meanwhile, Twitter users have been coming up with some hilarious new names for Facebook. Suggestions include 'faceverse', 'ourspace', 'Zuckerverse', 'Friendzone' and even 'Myspace'.
Facebook building virtual reality 'metaverse' – a 3D internet you physically enter
"You should rename yourselves Crashbook," said one user, in reference to the social network's 8-hour outage this month.
This potential rebrand comes just as the company is facing intense criticism after a former employee publicly lambasted its handling of users' data and for allegedly endangering kids and teens through its apps.
In a blog post, Mark Zuckerberg hit back at the claims and said many of them are "just not true".
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