Facebook changes name to Meta as it refocuses on virtual reality

FILE PHOTO: Facebook Chairman and CEO Mark Zuckerberg addresses the audience on "the challenges of protecting free speech while combating hate speech online, fighting misinformation, and political data privacy and security," at a forum hosted by Georgetown University's Institute of Politics and Public Service (GU Politics) and the McCourt School of Public Policy in Washington, U.S., October 17, 2019. REUTERS/Carlos Jasso

(Reuters) - Facebook Inc is now called Meta, the company said on Thursday, in a rebrand that focuses on building the "metaverse," a shared virtual environment that it bets will be the successor to the mobile internet.

The name change comes as the world's largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions and the policing of abuses on its services.