According to a recent update by The Verge, Facebook will potentially change its name and announce it in their Connect conference planned to take place on the 28th of October.

The name change is set to follow Facebook’s ambition to be known for more than only their social media platform. According to the update, the Facebook logo will still exist as a product under a parent company along with other products such as Instagram, Whatsapp, and Oculus to name a few.

In 2015 we saw Google reorganize under their parent company, Alphabet, which helped the company create a clearer separation between different products and services and helped the company communicate their wider scope of services that are not directly related to the search engine.

At this point, the company did not confirm the news.