Facebook rebrands itself as 'Meta'

The company said it would better "encompass" what it does, as it broadens its reach beyond social media into areas such as virtual reality.

The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.

The news comes off the back of negative stories about Facebook, based on documents leaked by ex-employee Frances Haugen who accused the company of putting "profits over safety".

Announcing the news on twitter with the tagline: "Meta is helping to build the metaverse, a place where we'll play and connect in 3D.

"Welcome to the next chapter of social connection."