Facebook may be getting a new name next week to better reflect its focus on the metaverse, according to The Verge.
CEO Mark Zuckerberg will talk about this rebrand at the company's annual Connect conference on Oct. 28, but an unidentified source told the tech news site that the announcement could come sooner.
Similar to Google's creation of its parent Alphabet in 2015, the rename will likely create a new parent company and position Facebook along with its other products including Instagram, WhatsApp, Oculus, and more.
On Oct. 18, the company announced that it will hire 10,000 people to build a metaverse. A metaverse refers to the shared virtual world where people can interact with each other with augmented reality (AR), virtual reality (VR), and other technologies via the internet.
The rebrand could also help Zuckerberg's company to rehabilitate its image following the controversies the social platform is grappling with currently. Former employee and whistleblower Frances Haugen leaked internal documents to The Wall Street Journal and testified before Congress about how Facebook was aware of how its products were fueling hate and harming children's mental health.