At the start of March, in a highly sought-after acquisition, it was confirmed that the Silicon Valley based augmented reality startup, Meta, was the chosen candidate to purchase the much-talked about virtual reality company, Within.
The two-year-old startup, formerly known as VRSE and founded by film director Chris Milk, was valued at $100 million USD at the time of acquisition.
After the news was made public, Meta CEO Meron Gribetz released a statement thanking to shareholders, partners and team members for their undying support during the long process.
Gribetz highlighted the difficulties of acquiring a major VR startup in an industry filled with big players and stated that the time and effort invested by the Meta team has paid off.
There have been reports that at least three major tech companies, including Oculus, had intentions to purchase Within. Sources close to the matter claim that ultimately it was Meta’s commitment to the vision and mission of the startup that saw them through as the successful bidders.
Meta saw the potential of Within’s technology and invested heavily into the team in order to ensure that the startup had the resources to further the development and implementation of the VR product.
The move is seen as a big step in the right direction for both companies. Within will now have access to the resources of a bigger company which will only aid in their research and development of their products.
The purchase of Within is also seen as a major milestone for the initial Virtual Reality (VR) industry. It shows that there is a growing market for VR and that it is an industry that is being taken seriously.
The acquisition of Within by Meta is a significant move in the VR industry and with the resources of the bigger company, Within will now have the chance to create further breakthroughs in immersive technologies that will push boundaries and explore new possibilities in the industry.
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