Facebook parent to be called Meta, firm betting big on virtual experiences

Facebook Chief Executive Officer Mark Zuckerberg said on October 28 that the parent firm of the Facebook family of apps and its new endeavours will now be known as Meta.

The company is betting big on the “metaverse,” or a social, 3-D virtual space, where people can share immersive experiences with each other, Chief Product Officer Chris Cox said at a press briefing early Friday morning.

At the company’s annual developer conference, Facebook Connect 2021, CEO Mark Zuckerberg introduced Meta.

“The defining quality of the metaverse will be a feeling of presence — like you are right there with another person or in another place.