Facebook, the social media giant that owns apps like Messenger, Instagram and WhatsApp, has announced a new name for its parent company: Meta. The name change reflects the company’s vision to create the metaverse, a virtual environment where people can interact with each other and digital content in immersive ways.

Meta’s CEO Mark Zuckerberg unveiled the new name and logo at the Connect 2021 conference, where he also shared his founder’s letter and some of the products and technologies that Meta is developing to bring the metaverse to life. These include Horizon Home, a customizable VR space where users can hang out with friends, play games and access apps; Presence Platform, a set of tools that enable mixed reality experiences on Quest 2; and Project Aria, a research device that explores the potential of wearable augmented reality.

Zuckerberg said that Meta’s focus will be to help people connect, find communities and grow businesses in the metaverse, which he described as “the next evolution in a long line of social technologies”. He added that Meta will also work to build the metaverse responsibly, with privacy, safety and interoperability as key principles.

The name change does not affect how Meta uses or shares data, nor does it affect the names of its apps and services. However, the company plans to report on two operating segments: Family of Apps and Reality Labs, starting from the fourth quarter of 2021. It also intends to start trading under a new stock ticker, MVRS, on December 1.

Meta’s new name and logo are inspired by the Greek word “meta”, which means “beyond”. The logo consists of an infinity symbol that forms a loop, representing the company’s vision of endless possibilities in the metaverse.

Meta’s announcement has generated mixed reactions from the public and the industry. Some have praised the company for its ambitious vision and innovation, while others have criticized it for its track record of privacy scandals, misinformation and antitrust issues. Some have also questioned the feasibility and desirability of the metaverse, as well as the potential social and ethical implications of living in a virtual world.

Despite the challenges and uncertainties, Meta is not the only company that is pursuing the metaverse. Other tech giants like Microsoft, Google and Amazon, as well as gaming companies like Roblox, Epic Games and Valve, are also investing in creating their own versions of the metaverse. Moreover, many startups and creators are developing new platforms, tools and content for the metaverse, creating a diverse and competitive landscape.

As the metaverse evolves, it will likely offer new opportunities and challenges for individuals, businesses and society. It will enable new forms of social connection, entertainment, education, work and commerce, but it will also raise new questions about privacy, security, regulation and governance. It will require collaboration and cooperation among different stakeholders, as well as innovation and experimentation from different sectors. It will also demand responsibility and accountability from Meta and other companies that shape the metaverse.