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JUST IN:Facebook Changes Company Name To Meta

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Facebook on Thursday announced that it has changed its company name to Meta.

The name change, which was announced at the Facebook Connect augmented and virtual reality conference, reflects the company’s growing ambitions beyond social media.

The re-branding also comes after the company has dealt with a barrage of news reports over the past month stemming from whistleblower Frances Haugen’s trove of internal documents.

Facebook employees gather in front of a sign displaying a new logo and the name ‘Meta’ in front of Facebook headquarters on October 28, 2021 in Menlo Park, California.

Justin Sullivan | Getty Images
Facebook on Thursday announced that it has changed its company name to Meta.

The name change was announced at the Facebook Connect augmented and virtual reality conference.

The new name reflects the company’s growing ambitions beyond social media. Facebook, now known as Meta, has adopted the new moniker, based on the sci-fi term metaverse, to describe its vision for working and playing in a virtual world.

“Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started,” Meta CEO Mark Zuckerberg said.

The company will also change its stock ticker from FB to MVRS, effective Dec. 1, the company said in the announcement of its name change.

Meta’s stock price was up more than 3% on Thursday.

In July, the company announced the formation of a team that would work on the metaverse. Two months later, the company said it would elevate Andrew “Boz” Bosworth, who is currently the head of the company’s hardware division, to the role of chief technology officer in 2022. And in its third-quarter earnings results on Monday, the company announced that it will break out Reality Labs, its hardware division, into its own reporting segment, starting in the fourth quarter.

“Our hope is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers,” Zuckerberg wrote in a letter on Thursday.

Over the past few years, the company has ramped up its efforts in hardware, introducing a line of Portal video-calling devices, launching the Ray-Ban Stories glasses and rolling out various versions of the Oculus virtual-reality headsets. The company has indicated that augmented and virtual reality will be a key part of its strategy in the coming years.

The company also said this week it’d spend about $10 billion over the next year developing the technologies required for building the metaverse.

Zuckerberg on Thursday also provided a demonstration of the company’s ambitions for the metaverse.

The demo was a Pixar-like animation of software the company hopes to build some day. The demo included users hanging out in space as cartoon-like versions of themselves or fantastical characters, like a robot, that represent their virtual selves.

Zuckerberg said a lot of this is a long ways off but the company is starting to work on it. Elements of the metaverse could become mainstream in five to 10 years, Zuckerberg predicted. The company expects “to invest many billions of dollars for years to come before the metaverse reaches scale,” Zuckerberg added.

“We believe the metaverse will be the successor to the mobile internet,” Zuckerberg said.

Additionally, Meta announced a new virtual reality headset named Project Cambria. The device will be a high-end product available at the “higher-end of the price spectrum” that will be released next year, Zuckerberg said.

Meta also announced the code name of its first fully AR-capable smart glasses is Project Nazare. The company did not say when the glasses will be released. Zuckerberg said “we still have a ways to go with Nazare, but we’re making good progress.”

The re-branding also comes after the company has dealt with a barrage of news reports over the past month. Those have stemmed from Frances Haugen, a former employee turned whistleblower who has released a trove of internal company documents to news outlets, lawmakers and regulators.

The reports show that the company is aware of many of the harms its apps and services cause but either doesn’t rectify the issues or struggles to address them. More documents are expected to be shared daily over the coming weeks.

In a call with analysts on Monday, Zuckerberg vehemently refuted the claims and critiques in news reports stemming from whistleblower Frances Haugen’s trove of internal company documents.

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Second Term Ticket: Kwara North APC Endorse Gov Abdulrazaq

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The Senator representing Kwara North Senatorial District and the Speaker Kwara State House of Assembly led Kwara North APC stakeholders to endorse Governor. Abdulrahman Abdulrazaq for second term as Governor of Kwara State.

 

The event was well attended by party leaders and faithfuls across the district including Members of House of representatives representing Edu/Patigi/Moro constituency and member representing Baruten/Kaiama Constituency

 

State Lawmakers, Party Elders from all the Local Government and top Government functionaries from the zone were in attendance.

 

While speaking at the Kwara North APC Senatorial Meeting held in Bode Sadu, party leaders from the ward levels across the five Local Governments of the Senatorial district endorsed Abdulrahman Abdulrazaq for second term in recognition of the developmental projects and programs of the Government in Kwara North.

 

While addressing the mammoth crowd at the meeting, the Kwara State House of Assembly Speaker said the PDP is trying to impose failed politicians on the region by its so-called zoning of the Governorship ticket to Kwara North.He re-affirmed that Kwara North APC have resolved not to fall for the gimmick of the failed dynasty.

 

In his remark, the Senator representing Kwara North commended Governor. Abdulrahman Abdulrazaq for his developmental strides in the senatorial district and expressed the confidence of the people from the zone in the leadership of the Governor.

 

The Senator led the stakeholders to unanimously endorse Governor.Abdulrahman Abdulrazaq for second term after a thorough sector by sector review of the Governor’s performance.

 

The Senator representing Kwara North Senatorial District and the Speaker Kwara State House of Assembly led Kwara North APC stakeholders to endorse Governor. Abdulrahman Abdulrazaq for second term as Governor of Kwara State.

 

While speaking at the Kwara North APC Senatorial Meeting held in Bode Saadu, party leaders from the ward level across the five Local Governments of the Senatorial endorsed Abdulrahman Abdulrazaq for scond term in recognition of the developmental projects and programs of the Government in Kwara North.

 

While addressing the mammoth crowd at the meeting the Kwara State House of Assembly Speaker said the PDP is trying to impose failed politicians on the region by its so-called zoning of the Governorship ticket to Kwara North.He re-afirmed that Kwara North have resolved not to fall for the gimmick of the failed dynasty.

 

In his remark, the Senator representing Kwara North commended Governor. Abdulrahman Abdulrazaq for his developmental strides in the senatorial district. He said Kwara North APC is confident in the leadership of the Governor.

 

The Senator went further to lead the stakeholders to unanimously endorse Governor.Abdulrahman Abdulrazaq for second term after a ward by ward and sectoral review of the Governor’s performance.

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News Initiative: Air Peace Introduces Priority Boarding For Military Personnel

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Air Peace has announced the introduction of an initiative, called ‘Priority Boarding Policy,’ to honour Nigeria’s military personnel, both serving and retired.

 

According to its Chief Executive Officer, Allen Onyema, the airline holds the contributions of the military in securing Nigeria and defending its territory from external aggression in high esteem.

 

“This Priority Boarding Policy we are introducing is our own way of appreciating and recognising the noble and patriotic efforts of the officers and men of Nigeria’s Armed Forces, for the risks they take and all the sacrifices they make in defending the territorial integrity of this country. Our ground staff have also been enjoined to appreciate them,” he said in a statement on Friday.

 

Onyema urged other passengers to show understanding and cooperate with the airline’s ground personnel to ensure a seamless implementation of the new policy.

 

He said other businesses should adopt a similar policy in honour of the Nigerian military.

 

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Another Top Ranking Anambra Federal Law Maker Defects To APC

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The Yobe state Governor and Chairman APC Caretaker Extraordinary Convention Planning Committee, Hon. Mai Mala Buni, has received Hon. Chukwuma Umeoji, a top ranking legislator representing Aguata (Anambra) federal Constituency who defected from APGA to APC.

Gov. Buni charged the legislator to be dedicated, faithful and loyal to the party.

“APC will stand for you and your supporters, and protect your political interests at all times.

“You will enjoy every privilege enjoyed by every member of the party” the Chairman Caretaker committee assured.

He urged the federal law maker and his supporters to work for the Party’s success in the forthcoming Anambra governorship election.

“We expect you to be part of the success story in the coming Anambra election as our victory in the election is getting much more clearer every day” Governor Buni said.

He assured the people of Aguta federal constituency that the decision of their representative to carry them along into the Nigeria project will attract more federal presence to the constituency.

Hon. Chukwuma Umeoji, assured his loyalty, his political associates and the people of his constituency to the party.

“We shall contribute to the success awaiting the party in the Anambra election.

“We are part of the Nigeria project and will from now henceforth work and defend the interest of APC at all levels” he assured.

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