Facebook Inc (FB.O), under fire from regulators and lawmakers over its business practices, is planning to re-brand itself with a new name that focuses on the metaverse, the Verge reported on Tuesday.
The name change will be announced next week, The Verge reported, 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.
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