Meta Platforms adopted its corporate name in 2021 to emphasize its focus on the metaverse.
Facebook announced the name change to Meta Platforms in October 2021. The company kept Facebook as the name of its social-networking service, while the new corporate identity signaled an effort to build products and platforms associated with virtual and augmented reality.
Meta’s other major services include Instagram, WhatsApp, and Messenger. Reality Labs, its division for virtual and augmented reality products, became a central part of the metaverse strategy, while advertising remained the company’s dominant source of revenue.
The rebrand did not mean that the Facebook app itself was renamed Meta. Facebook remained a product within Meta Platforms. The company’s shares continued trading on Nasdaq under the ticker META.