Meta’s CEO, Mark Zuckerberg, is set to pocket $175 million from the company’s first-ever dividend, benefiting top shareholders too. Mark Zuckerberg surprised everyone last week by apologizing during the Senate’s online kid safety session. A few days later, he made
Meta’s third quarter revealed significant financial blows, particularly within its metaverse-focused Reality Labs division. Despite earning $34.1 billion in total revenue, according to their third-quarter 2023 results, a growth of 23% from the prior year, the Reality Labs sector plummeted
ByteDance, the parent company of social media juggernaut TikTok, has vehemently dismissed rumors suggesting the potential shutdown of its VR enterprise, Pico. With Pico headsets dominating 58% of the VR market in China, ByteDance’s affirmation comes at a pivotal time,
Despite declarations of its demise, Meta’s new photorealistic avatars prove that the metaverse is not dead after all. In a ‘Metaverse interview’ on the Lex Fridman podcast, Mark Zuckerberg demonstrated Meta’s new lifelike Codec virtual reality avatars. Developed by Meta’s
In a new ad campaign, Meta, the company previously known as Facebook, emphasizes the real and pragmatic socio-economic benefits of virtual reality, diverging from its erstwhile futuristic portrayal of the metaverse experience. The core theme behind the ad series is
Mark Zuckerberg’s Reality Labs division has lost $40 billion since 2021, but that won’t stop Meta from plowing even more money into the project. The revelations came with the release of Meta’s second-quarter results for 2023. The end of the
Investment bank Citi thinks the metaverse could be worth $13 trillion by 2030, yet in 2023 half of adults don’t even know what it is. That’s according to a new survey by broadband company Pure Telecom. The survey questioned 1,000
The metaverse has been advertised as many things, from an interconnected gaming ecosystem to a virtual office where you can enjoy the benefits of physical co-working without the hassle of a morning commute. Meta has been one of the biggest
Mark Zuckerberg’s Meta and its metaverse division Reality Labs are refocusing their efforts on gaming, according to sources within the organization. The news comes against the backdrop of significant cuts at the firm. Zuckerberg previously announced that 2023 would be
Meta Platforms Inc. (META), owners of Facebook, Instagram, Messenger, WhatsApp, Horizon Worlds, Mapillary, and Workplace has reduced the cost of its Quest Virtual Reality (VR) headset to attract more customers in the growing VR sector. Meta has consistently been named among the
Microsoft CEO Satya Nadella talked up the metaverse as “game changing” at the just ended Word Economic Forum (WEF). He spoke as the U.S. tech giant shut down its virtual reality (VR) metaverse AltspaceVR, in a company-wide purge that will
Meta lost $9.4 billion in the first nine months of the year in its metaverse unit Reality Labs and sees significantly wider operating losses going forward. But its not just Meta that is suffering in the technology sector. A slowing economy
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