Social media giant Facebook Inc is planning to rebrand itself with a new name next week, the Verge reported on Tuesday, citing a source with direct knowledge of the matter.
Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on October 28, but it could be unveiled sooner, the Verge reported.
In response, Facebook said it does not comment on “rumour or speculation”.
The news comes at a time when the company is facing increasing US government scrutiny over its business practices. Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook.
The rebranding would position Facebook’s social media app as one of many products under a parent company, which will also oversee groups like Instagram, WhatsApp, Oculus and more, the Verge report added.