Facebook announce the new Meta meaning represent the new era is coming?

On October 29th, according to Bloomberg, the world’s sixth-ranked social giant Facebook officially announced that it was renamed "Meta". Facebook CEO Mark Zuckerberg said at his company conference "Connet 2021", The company will be renamed the new Meta meaning to reflect the new growth opportunities brought by "Metaverse". 

"We are at the beginning of the next chapter of the Internet, and this is also the next chapter of our company." Zuckerberg wrote in an open letter. Not only is the company renamed, Facebook's stock code will be changed to "MVRS" from December 1. At the same time, one of its past logos-the blue and white letter F has also been replaced by a somewhat skewed "infinite" symbol, which is a new logo specially designed by Facebook for "Meta".

First of all, we need to see that Facebook, as the old social platform of the Internet, has attracted nearly 3 billion users worldwide. However, in the recent quarterly financial report of Facebook update, we saw that its daily active users were 1.93 billion, an increase of 1 month-on-month. %, hit a new low in the past two years, and the market has also been squeezed from Twitter, Snapchat and TikTok.

At the same time, in recent years, Facebook has been plagued by the problem of privacy data leakage. An accident about data security occurs almost every year, which also affects the use of users and will inevitably bring about growth problems. In early October, the websites and apps of Facebook and its two major social networking platforms Instagra and WhatsApp experienced more than 6 hours of downtime, refreshing the longest downtime since 2008, causing its stock price to fall on the same day. Nearly 6%.

The impact of the market is also reflected in Facebook’s financial report. Facebook’s financial report directly stated that due to competitors’ products and services, some users’ participation in Facebook’s products and services has been reduced, and other regional businesses and macroeconomic conditions all have Facebook ads. Income has an impact.

Therefore, Facebook's adjustment of its direction this time and participating in the meta-universe can be described as a desperate choice. Meta Universe is called the next-generation Internet, although the new Meta meaning it is still far away, but it is indeed a promising direction for many industries. On the other hand, social interaction is also an important part of Metaverse, and it fits well with Facebook's existing advantages. Therefore, for Facebook, participating in the frontier direction of the meta-universe and betting on the future may be able to bring Facebook to bring a "second growth curve" and get out of the current predicament to bring new growth points.

From Facebook's point of view, the Metaverse must not be overnight. They once said, "Metaverse is a vision that spans many companies and even the entire technology industry. You can think of it as the successor to the mobile Internet. If we do well, I think in the next five years or so, we will Effectively transition from what people think we are primarily a social media company to a meta-universe company."

Facebook stated that the key feature of the new Meta meaning is openness and interoperability, which requires coordination and cooperation among companies, developers, creators, and policy makers. For Facebook, it also requires continuous investment in products and technical talents to promote The entire business grows.