Facebook Inc (FB.O), under fire from regulators and lawmakers over its business practices, is planning to rebrand itself with a new name that focuses on the metaverse, the Verge reports.
The name change will be announced next week, The Verge reports, citing a source with direct knowledge of the matter.
The move would likely position the flagship app as one of many products under a parent company overseeing brands such as Instagram and WhatsApp, according to the report.
Google (GOOGL.O) adopted such a structure when it reorganized into a holding company called Alphabet in 2015.
