While Facebook is reportedly set to unveil the company's new name as early as Next Tuesday, people familiar with the matter say CEO Mark Zuckerberg has yet to settle on a new name.
It was reported on Tuesday that Facebook plans to change its name next week to reflect its focus on building the Metaverse. The name change also helps distract regulators.
The Facebook name change has been in the works for at least two months and could be announced as soon as Monday, two people familiar with the matter said today. That's when Facebook will report its third-quarter 2021 earnings.
With just a few days to go before the announcement, people familiar with the matter say Mr. Zuckerberg still hasn't settled on a new name for Facebook.
As the new name is likely to highlight the "Metaverse", one person familiar with the matter said Facebook could use the word "meta". But another person familiar with the matter said the new name could also have nothing to do with the metasverse.
If Facebook doesn't announce the new name at its Q3 earnings call, it could do so at the Connect conference on October 28, sources said.
A Facebook spokesman said: "We don't comment on rumors or market speculation."
The so-called "metasurverse" refers to a future version of the Internet, where people use virtual reality (VR) and augmented reality (AR) devices to enter virtual Spaces, rather than accessing the web via laptops and phones as is currently the case.
Zuckerberg sees the "metasurverse" as the future of Facebook and the Internet as a whole. In an interview in July, he said Facebook would transform from a social media company into a "meta-universe" within a few years. Facebook also announced on Monday that it is hiring 10,000 people in Europe to build the "metasverse."