Facebook to be rebranded?

Social media giant Facebook Inc is planning to rebrand itself with a new name next week, American technology blog the Verge reported on Tuesday, citing a source with direct knowledge of the matter.

Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on October 28, but it could be unveiled sooner, the Verge reported.

In response, Facebook said it does not comment on “rumour or speculation”.

The news comes at a time when the company is facing increasing government scrutiny in the United States over its business practices.

It is not uncommon in Silicon Valley for companies to change their names as they bid to expand their services.

Google established Alphabet Inc as a holding company in 2015 to expand beyond its search and advertising businesses, to oversee various other ventures ranging from its autonomous vehicle unit and health technology to providing internet services in remote areas.

(Excerpts : Al Jazeera)

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