Facebook intends to change name: report

Facebook Chief officer Mark Zuckerberg plans to speak regarding the name modification at the company' annual Connect conference on Oct. 28, however it may be disclosed sooner, the Verge reported.

Social media big Facebook inc is about to rebrand itself with a brand new name next week, the Verge rumored on Tuesday, citing a supply with direct data of the matter. Facebook Chief military officer Mark Zuckerberg plans to speak concerning the name modification at the company' annual Connect conference on Oct. 28, however it may be disclosed sooner, the Verge reported. In response, Facebook aforesaid it doesn't touch upon "rumor or speculation."

The news comes at a time once the corporate is facing increasing U.S. government scrutiny over its business practices. Lawmakers from each parties have excoriated the company, illustrating the rising anger in Congress with Facebook.

The rebranding would position Facebook' social media app in concert of the many product underneath a parent company, which can conjointly supervise teams like Instagram, WhatsApp, sense organ and more, the Verge report added.

It' not uncommon within the geographic region for firms to alter their names as they bid to expand their services. Google established Alphabet INC as a company in 2015 to expand on the far side its search and advertising businesses, to manage numerous different ventures starting from its autonomous vehicle unit and health technology to providing web services in remote areas.