Facebook recently announced its new company name, “Meta,” at the company’s augmented and virtual reality conference, Connect. “We are a company that builds technology to connect,” CEO Mark Zuckerberg said last October 28, 2021. “Together, we can finally put people at the center of our technology. And together, we can unlock a massively bigger creator economy.”

The new name came from the sci-fi term “metaverse,” which is used to describe the concept of the Internet’s future. With the company’s continuous growth, Meta will focus on bringing the metaverse to life and helping people connect, find communities, and grow businesses. Zuckerberg said that the company hopes the metaverse will reach billions of people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers in the next decade. “Today, we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started,” Zuckerberg said.