News outlet The Verge is reporting the company will change its name, but it is not yet identified what the change will be.
There is speculation the change may come in the form of a holding corporation such as when Google created Alphabet or if it will be something else.
There is also speculation as to whether this is due to Facebook’s global legal issues, or because the platform is seen to be old.
The Verge says the change is said to be due to Facebook creator Mark Zuckerberg’s desire to create what he calls ‘the metaverse’, something he wishes to be the leader of.
Mr Zuckerberg has hired 10,000 computer programmers to make this a reality.
