"We all have a strong attachment to the Oculus brand, and this was a very difficult decision to make," Bosworth said in the post. "While we're retiring the name, I can assure you that the original Oculus vision remains deeply embedded in how Meta will continue to drive mass adoption for VR today."
Facebook purchased Oculus in 2014 for $2 billion. The virtual technology company made a big splash with its first VR headset, the
, which was funded by a Kickstarter campaign.
Watch this: Zuckerberg unveils new company name: Meta
Meta is the new parent company that will oversee all of Facebook's assets, including the social media platform itself, Instagram, WhatsApp, and all the virtual and augmented reality components. It plans to develop its own Metaverse, which will be a virtual world for socializing, working and