We should’ve asked this question last week, but it slipped our mind to do so. Plus it was a short week. So, let’s hear it from Das ka Dum in the Das ka Dum edition for today, November 8.
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Q. It’s over a fortnight since Facebook announced a new corporate identity in ‘Meta’. While a new name is fine, do you think it can help erase all the negatives of the past (and present)?
A. I was trying to decode what is hidden in your question: is the name change fine with alleged reputational issues about the company? Strategically, I find the new name is logical as FB is aiming to build a new ecosystem beyond its current portfolio of brands under social media. So, it’s futuristic. The organisation is getting ready for a future by creating/ reinventing it.
Secondly, when one is in business, such reputational challenges are normal. I am sure they are attending to it. Will the rechristened name solve reputational issues? The answer can only be a conjecture.
Thirdly, this rebranding exercise, if I may, has many precedents viz Google created Alphabet or Snapchat to Snap inc. Many multibrand companies move brands into separate companies for risk compartmentalisation , for tax rationalisation etc. While it’s a strategic decision, original names are not forgotten easily as we are still using Google as a name. I can imagine it would be the same for FB.
Finally, I think business imperatives must get priority above all alleged issues as the consumer experience is curated futuristically, market would do a deserving arbitrage.