According to multiple sources, yes, Facebook is rebranding.
Facebook, Inc. is planning to unveil a new name in an effort to be seen as more than just a social media company, according to a new report.
The Verge reported that CEO Mark Zuckerberg plans to announce the new name next week during the annual Connect conference on Oct. 28. The switch is expected to reflect the company's "focus on building the metaverse," per the tech news outlet.
As a part of the rebrand, the name of the Facebook app would reportedly not change, but rather the parent company would have a new name.
The Verge also reported that the new name is not widely known at the company, but could possibly be connected to their VR platform, Horizon Worlds, which is currently in an invite-only beta phase.
Facebook's reported rebrand would come amid a period of intense scrutiny for the company, after former Facebook product manager Frances Haugen leaked internal documents to lawmakers and the Wall Street Journal.
Zuckerberg previously mentioned the company shifting focus to the "metaverse" — a word coined in a 1992 science fiction book by Neil Stephenson — during a July interview with The Verge.
"The metaverse is a vision that spans many companies — the whole industry. You can think about it as the successor to the mobile internet," he said. "It's certainly not something that any one company is going to build, but I think a big part of our next chapter is going to hopefully be contributing to building that, in partnership with a lot of other companies and creators and developers."
"And my hope, if we do this well, I think over the next five years or so, in this next chapter of our company, I think we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company," he added.