Facebook Inc’s rebranding as ‘Meta’ is an opportunistic move to gain a first-mover advantage in the futuristic metaverse ecosystem, which is expected to take off in a big way next year. The name change could also be aimed at fencing off the company’s other brands including Instagram and WhatsApp due to the ongoing investigation against Facebook based on allegations made by whistleblowers.
“Facebook has invested a lot in augmented reality (AR) and virtual reality (VR) technology and launched products like the Oculus and RayBan glasses,” said Karthik Srinivasan, an independent communications strategy consultant. “They have been the most vocal and visible in terms of investments in the metaverse. Five years after Now, they will be known as the pioneers of the metaverse and so they reserved the name “Meta.”
Lots of companies, including Apple and Microsoft, are preparing for the metaverse.
Under the new structure, there will be no change to Facebook’s name as a social media platform. However, all the brands including Facebook, WhatsApp, Instagram among other apps, which were until now affiliated with Facebook Inc, will now be under the Meta umbrella.
As the Meta movement unleashed a wild meme fest on social media, with one user likening the brand’s new infinite logo to a rubber band – “Our new logo is a rubber band because our morals are elastic. Oh, and we expand the truth…” – Brand Consultants were more charity.
Harish Bigor, founder of Harish Bigor ConsultingAnd He said, “Under Meta there are at least 20 other brands out there right now. It gives the struggling brand name a contemporary makeover and I’ve always felt that a four-letter or two-syllable word works best. The logo, too, I feel is Good. This will help Facebook put it back under a new umbrella.”
Sanchit Veer Jogja, chief analyst and CEO of Greyhound Research, said Facebook has been having issues with placement and perception for the longest time. “It’s no longer just a social media app but people still call it that! The company wasn’t able to put other products on the ground due to its location – so (the name change) makes perfect sense,” Jogja said.
Regarding widespread trolling for the name change, Jogja said it was understandable. “Facebook has a lot of negativity surrounding it in terms of privacy and other legal issues, so the memes were very predictable,” he said.
For example, American public health scientist Eric Vigel-Ding wrote, “It’s me – a cancer spreading in democracy and public health – Facebook.”