Social media giant Facebook Inc (FB.O) is planning to rebrand itself with a new name next week, the Verge reported on Tuesday, citing a source with direct knowledge of the matter.
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, the Verge reported.
In response, Facebook said it does not comment on "rumor or speculation."
The news comes at a time when the company is facing increasing U.S. government scrutiny over its business practices. Lawmakers from both parties have excoriated the company, illustrating the rising anger in Congress with Facebook