Facebook changed its name to Meta, no, not the name of the social media that was changed, but the name of the parent.
"Together, we can finally position people at the center of our technology. And together, we can unlock an even bigger creator economy," said Mark Zuckerberg, Facebook CEO at Facebook Connect 2021.
So, what is Meta, anyway?
In his writings, Zuck mentions the word 'meta' comes from the Greek language which means beyond, which when translated means further, beyond, or can also exceed.
According to Zuck, this word symbolizes that there is always something that can be built, and that there is always a next step on Facebook.
"For us, the story begins in a dorm room and grows beyond anything we could have imagined; into a family of apps that people use to connect with one another," Zuck wrote.
At the Connect event, Zuck also expressed his hope that in the future he would like Facebook -- or Meta to be precise -- to be seen as a metaverse company. So what is the metaverse?
Of course there is no clear definition for this word metaverse. Maybe just a new, more fancy name for the internet's successor. But for the definition, often used is the description of Matthew Ball, a venture capitalist who wrote 'Metaverse Primer'.
"Metaverse is a persistently expansive network of simulated, real-time rendered three-dimensional worlds that supports the continuity of identities, objects, history, payments and rights, and can also be sensed synchronously by an infinite number of users," Ball wrote.
It's a complicated description. But Facebook describes the metaverse more simply.
"Metaverse is a collection of virtual spaces where you can create and explore with other people who are not in the same physical space," wrote Facebook.
Zuck believes this concept could become the next big social platform and he believes several tech companies will build on it over the next 10 years.
"Now, Meta is moving beyond 2D screens to immersive experiences like augmented reality and virtual reality to help build the next evolution in social technology."
To note, Facebook is not the first technology company to change its company name as the company's ambitions grow.
Previously a similar move was taken by Google in 2015, the internet search giant reorganized completely under a parent company called Alphabet Inc. Then Snapchat changed its name to Snap Inc in 2016.