Facebook has revealed a new parent company name and brand, Meta.

Chief executive Mark Zuckerberg announced the move in an online conference focused on the metaverse, a virtual 3D world he envisages for the future.

Facebook chief executive Mark Zuckerberg announced the rebrand of his company, saying: “Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future.

“Over time, I hope that we are seen as a metaverse company and I want to anchor our work and our identity on what we’re building towards.

“We just announced that we were making a fundamental change to our company. We’re now looking at and reporting on our business as two different segments, one for our family of apps, and one for our work on future platforms.

“And as part of this, it is time for us to adopt a new company brand to encompass everything that we do to reflect who we are and what we hope to build.

“I am proud to announce that starting today, our company is now Meta.”

Twitter and Aldi react to Facebook rebrand

The move has caused a stir on social media, not least from its competitors who have moved to make fun of the name change.

As news broke of the rebrand, Twitter waded in announcing “BIG NEWS” of their own.

The official account tweeted: “BIG NEWS lol jk stil Twitter.”

Meanwhile, Aldi, the German supermarket well known for its quick wit on social media was quick to give their take on Facebook’s rebrand.

“Unveiling our Betta strapline,” they said posting an image of a new logo claiming: “We betta than all the rest.”

The move is designed to represent the firm’s broadening business portfolio beyond social networking, particularly as it pushes on with plans to develop the so-called metaverse, an online world where people can meet, play and work virtually, often using VR headsets.

But it also comes amid a string of controversies that have followed the company’s various ventures, particularly the main Facebook platform, Instagram and WhatsApp.