Facebook is planning to change the name

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FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS / Dado Ruvic / Illustration

Facebook is planning to change the company name next week according to a source close to the issue.

The next name change, which chief executive Mark Zuckerberg plans to address at the company's annual conference on October 28, but could be revealed earlier.

This change is intended to signal the ambition of the tech giant to be known more than social media. A Facebook spokesman declined to comment on the matter, rtv21.tv reports.

Facebook already has more than 10.000 employees building consumer devices like AR glasses that Zuckerberg believes will eventually be just as ubiquitous as smartphones.

Facebook is not the first known tech company to change the company name as its ambitions expand. In 2015, Google was completely reorganized under a holding company called Alphabet, in part to signal that it was no longer just a search engine, but a widespread conglomerate with companies producing driverless cars and health technology. And Snapchat was renamed Snap Inc. in 2016, the same year he started calling himself a "camera company".

It is said that the new name of the company Facebook is a secret kept tightly within its walls and is not widely known, even among its top leadership.21Media