On Thursday, Facebook's owner announced it had changed its company's name to Meta.
In a statement, Meta CEO Mark Zuckerberg said that the new name reflects the company’s growing ambitions beyond social media. Facebook, now known as Meta, has adopted the new moniker, based on the sci-fi term metaverse, to describe its vision for working and playing in a virtual world.
“Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started,” Zuckerberg added.
The company also said in announcing the new name that it will change its stock ticker from FB to MVRS, effective on Dec. 1.