Facebook plans to rebrand itself next week to keep itself away from many scandals.
The social media site – Facebook – could potentially hold its moniker, however, the parent company, Facebook Inc., which further owns WhatsApp and Instagram, will re-brand.
Facebook CEO Mark Zuckerberg plans to unveil the parent company’s name at its annual Connect conference on October 28, The Verge reports. But, the name switch may occur soon.
The name change could potentially put the Facebook social media app as one of the multiple products following the parent company, which manages WhatsApp, Instagram, Oculus, and many other products.
It is aimed primarily at removing the firm’s flagship media brand from future bad publicity as the testimony of former worker Frances Haugen’s recent whistleblower has tarnished the image of Facebook and Instagram.
However, Facebook told it did not comment on stories or speculation.
The renaming could greatly benefit the reputation of the California-based organization, which has undergone a major setback in current years.
The company has been accused of helping spread false information through the 2016 US presidential election, initiating a list of congressional hearings and policy reforms, including third-party fact-checking and There is more clarity in political advertising.
The Federal Trade Commission punished Facebook 5 billion dollars in 2019 for admitting the British firm Cambridge Analytic to acquire 87 million United States (US) profiles for political advertising information. The information was utilized in former US President Donald Trump’s 2016 campaign.
Frances Haugen, a former Facebook employee, newly released documents to the Wall Street Journal under the name ‘Facebook Files’. These files show that Facebook promoted distribution as a way to retain people on the site.
He moreover unveiled that the company knew that Instagram harms the physical image of young girls and even tried to consider ways to appeal to children by looking for ‘play dates’ as a lever of growth.
By altering the name of its company, Facebook plans to separate itself from this evil agent.
