Facebook Rebrands As Meta: What Investors Should Know About New Name, Ticker And Vision

$Meta Platforms (FB.US)$ will change its name to Meta, a name that encompasses its full investment in growth through the metaverse.

“Connection is evolving and so are we,” the company says on its new website. “The metaverse is the next evolution of social connection. Our company’s vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to this future.”

The acquisition of Oculus for $2 billion in 2014 pushed Facebook further into virtual reality and augmented reality over the years. The rebranding comes after the company announced in a memo this year it would be investing heavily in the metaverse.

Facebook will change its FB ticker to MVRS on Dec. 1.