Facebook mulling to change its name: report

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California (Web Desk): Social media giant Facebook Inc is planning to rebrand itself with a new name next week.

The Verge, citing a source with direct knowledge of the matter reported that Facebook Chief Executive Officer Mark Zuckerberg plans to talk about the name change at the company’s annual Connect conference on Oct. 28, but it could be unveiled sooner.

In response, Facebook said it does not comment on “rumor or speculation.”

The rebranding would position Facebook's social media app as one of many products under a parent company, which will also oversee groups like Instagram, WhatsApp, Oculus and more, the Verge report added.