Social media giant Facebook plans to rebrand itself with a new name next week. The Verge reported on Tuesday, citing a source with direct knowledge of the matter, stating that the name change is to reflect its focus on building the metaverse.

The Verge further reported that Facebook CEO Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on October 28th, but could unveil sooner.

The Verge added that the name is meant to signal the tech giant’s ambition to be known for more than social media and all the ills that entail. The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more. A spokesperson for Facebook declined to comment for this story.

Also read: What Caused The Unprecedented Facebook Outage? The Few Clues Point To A Problem From Within

Suddenly and inexplicably, Facebook, Instagram, WhatsApp, Messenger and Oculus services were gone. And it was no local disturbance. In a blog post, Downdetector.com, a major monitoring service for online outages, called it the largest global outage it had ever recorded — with 10.6 million reports from around the world.

The outage had an especially massive knock-on effect on individuals and businesses around the world that rely on Whatsapp to communicate with friends, family, colleagues and customers.

It took Facebook nearly six hours to get services back online, albeit slowly at first. Ironically, the outage was so pervasive Facebook had to resort to using Twitter, its rival platform, to get updates out into the world.

The internet and its outwardly visible face (the World Wide Web) is a remarkably fault-tolerant machine. It was designed to be resilient — and the web has never gone down completely. As such, global outages like this one are quite rare.

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