Apple reportedly acquired VR startup Spaces as it continues its buying spree and foray into virtual and augmented reality
Applehas acquired VR startup Spaces, Protocol reported Monday.
- Spaces, which creates themed virtual environments, had raised nearly $10 milion, according to PitchBook, but Protocol reported that the company has been struggling during the pandemic.
- Apple has made at least seven acquisitions already this year, including another
virtual realitystartup, NextVR, as it invests further in the emerging technology.
Accotding to Protocol, Spaces announced last week that it was "heading in a new direction," adding: "Thank you to our users and partners who participated in our awesome VR video conferencing product and the many people who enjoyed our VR location-based entertainment attractions found at theme parks, theaters, and more."Apple and Spaces could not be reached for comment.
But the pandemic forced Spaces to shutter its in-person VR centers, lay off workers, and eventually take a PPP loan as the industry more broadly has suffered, Protocol reported.Apple, meanwhile, has not lost steam, recently hitting a $2 trillion valuation as it continues to buy up startups. Spaces would be at least the company's eighth purchase on the year.
Apple has been particularly interested in virtual reality startups, most recently acquiring NextVR, a company that creates virtual experiences for live events and sports, reportedly for around $100 million. Apple also scooped up
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