Following the unprecedented scrutiny and widespread backlash over its business practices, the social media giant, Facebook

Facebook who disclosed this in a statement issued on its official social media pages during its annual developer conference said the new name would better “encompass” what it does now.

The company Chief Executive Officer (CEO), Mark Zuckerberg said that the parent
company’s name is being changed to “Meta” to represent a future beyond just its troubled social network, adding that new name won’t affect how the company uses or shares data and the corporate structure isn’t changing.

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Oh wow. That's going to be a lot of work