FACEBOOK PERFECTS PLANS TO REBRAND
In order to get rid of manifold scandals revealed by whistleblower, Frances Haugen, the social media giant, Facebook Incorporated, has perfected plans to change its name next week to reflect its focus on building a 'metaverse,' or a collection of virtual worlds, in a move that would distance the parent company from current scrutiny.
Information at the disposal of AFRICUNIA TV has it that the rebranding is likely to leave intact the name of the original Facebook, launched in 2004.
The Chief Executive Officer of Facebook Incorporated, Mark Zuckerberg, plans to disclose the parent company's new name at its annual Connect conference on October 28, 2021 but it could be unveiled sooner.
There are speculations that the change would position Facebook's social media app as one of many products under a parent company, which will oversee products like Instagram, WhatsApp, Oculus and more.
The rebranding exercise could be of immense benefit to the reputation of the California-based social media colossus which has suffered hit after hit in recent years.
Facebook was accused of facilitating the spread of misinformation during the 2016 US presidential election which orchestrated a series of congressional hearings and policy changes including the introduction of third-party fact-checkers and further transparency in political advertising.
Also, the social media behemoth was fined Facebook $5 billion in 2019 by the Federal Trade Commission for allowing 87 million US profiles to be harvested for information used for political advertising by British firm Cambridge Analytica. Some of the advertising was used to help the 2016 campaign of former president Donald Trump.
Not quite long ago, an erstwhile employee of Facebook, Frances Haugen, released a trove of documents dubbed the 'Facebook Files' to the Wall Street Journal which suggested that Facebook promoted divisiveness as a way to keep people on the site. It also showed that the company knew it harmed young girls' body image and even tried to brainstorm ways to appeal to toddlers by 'exploring playdates as a growth lever.'
Haugen, who anonymously filed eight complaints about her former employer with the US Securities and Exchange Commission, told 60 Minutes earlier this month: 'Facebook, over and over again, has shown it chooses profit over safety.'
She claimed that a 2018 change prioritizing divisive posts, which made Facebook users argue, was found to boost user engagement. That in turn helped bosses sell more online ads that have seen the social media giant's value creep close to $1 billion.
“You are forcing us to take positions that we don't like, that we know are bad for society. We know if we don't take those positions, we won't win in the marketplace of social media,” Haugen said.