Facebook plans to rename the parent company next week,

The Verge

reports

.

The social media platform Facebook will probably keep its name.

The structure of the company will also change.

Following the name change, Facebook's social media app will fall under the parent company's new name alongside Instagram, WhatsApp, and Oculus.

Search engine Google already has a similar structure to its parent company Alphabet.

In addition to Google Search and Google Cloud, this also includes Android and YouTube, for example.

The Verge

writes that Facebook boss Mark Zuckerberg will explain the name change at the company's annual Connect conference.

It will be held on October 28 this year.

According to Zuckerberg, the future of the parent company lies in the so-called metaverse concept.

This means that users live in an online 'virtual' world, in which they use different devices that are also in contact with each other.

Facebook has recently invested heavily in virtual reality headsets and services.

The company previously announced that it wants to create 10,000 jobs in the European Union over the next five years that are focused on, among other things, virtual reality.

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