If you have been reading in the tech news recently, Facebook changed their company’s name to Meta which was done in order to change the brand’s image in the market.
Facebook executives literally said that their brand has received so much bad press that they decided to change the name.
With this name change, Facebook hopes that they get their brand image to be positive once again among the people. But that will happen over a period of time and not immediately.
It is worth noting that a new report from Yahoo Finance has arrived and it says that Facebook/Meta has been ranked as the “worst company of 2021”.
Each year, Yahoo Finance conducts a survey where they strive to find out the “best and worst company of the year” and this is done based on their achievements and the company’s performance in the year.
As we mentioned earlier, Facebook/Meta was named as the “worst company of the year” and it is also due to the fact that users were displeased by the rebranded name.
On the other hand, Microsoft was ranked as the “best company of the year” and that is due to its 53% increase in its stock price as of December 2021 as well as bridging the $2 Trillion market cap.
Talking about the judging process, this survey was carried out by Yahoo Finance on its homepage with the help of Survey Monkey and a total of 1541 people voted for the different companies.
It is also worth noting that people still have a lot of hopes with Facebook/Meta as 30% of the voters said that Facebook can “redeem itself” if it does things correctly in the future.
There was also a suggestion that Facebook could redeem itself by donating a sizable amount of its profits to foundations and charities and reverse the harm it has done to society.
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