Despite the initial hurdles posed by the current pandemic, several brands are beginning to rebound such as Facebook and Tesla. Profits have risen higher than before for some businesses, particularly those who have focused their efforts on expanding e-commerce ventures.

Facebook introduced its new moniker, “Meta,” late last month, which symbolizes the company’s new focus on expanding the metaverse.

The social network highlighted its ambitious goals for extending the metaverse during its Connect Conference last month, including new immersive technology with realistic avatars, virtual workspaces for global collaboration, and “Horizon Home,” a virtual replica of a home.

During the conference, Zuckerberg stated, “From now on, we are going to be metaverse first.” “Right now, our brand is so closely associated with a single product that it could not possibly represent everything we’ve been doing so far, let alone in the future. I’d like to see us become known as a metaverse company over time, and I’d like to base our identity and work on that.”

Another business milestone made last month was Tesla hitting $1 trillion valuation when Hertz, a rental car brand, placed an initial order for over 100,000 Teslas by the end of next year.The company said in a press statement that it plans to offer large EV rental fleets around North America and one of the largest in the world, as well as new electric vehicles charging along infrastructures across its future global operations.