Microsoft has acquired virtual reality (VR) social network startup AltspaceVR for an undisclosed amount, the tech giant announced on Tuesday at a small press meet in San Francisco. The acquisition marks Microsoft’s yet another step (though a small one) in getting a stronghold in the highly promising & fast evolving virtual reality industry.
The acquisition will also bring AltspaceVR from the brink of extinction, since few months back the startup almost faced a shutdown due to fund shortage. AltspaceVR is basically a VR app that enabled users to become part of the free social VR community, completely dedicated to VR enthusiasts & buffs. This app that is accessible only through VR headsets is more popularly known for streaming live events. Notably, It has hosted comedians Reggie Watts and Drew Carey and famous science personality Bill Nye.
Microsoft has said that acquisition of AltspaceVR will help in building a robust & permanent ‘mixed reality’ community. The tech giant is one of the few technology companies that is attempting to get strong foothold in mixed reality platform. For people who don’t know, mixed reality is basically a platform that tries to bridge the best of AR & VR. The company made first major breakthrough on this front by unveiling two years back the Hololens headset, which is currently available in the US market at hefty price tag of $3,000.
Today almost all big technology companies are busy cracking the VR & AR market. Be it Google, Facebook, Samsung, HTC or Apple – they all want a pie in this highly nascent but fast evolving market.
