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Home / Tips and Tricks / Meta rises from the ashes under new ownership, along with a new CEO «Next Reality

Meta rises from the ashes under new ownership, along with a new CEO «Next Reality



Nearly half a year after we published the story of the demise of the Meta Company, there is good news for augmented reality startup fans – a rebirth is imminent.

As we reported months ago, a new owner called Meta View has control over Meta's assets, but now the new group is making it official.

The new company is a "completely new and disconnected unit" supported by Olive Tree Ventures and BNSG Capital. The CEO of the new version of Meta will be Jay Wright, former president of Vuforia, who also has experience working as an executive at Qualcomm.

"The potential for spatial computing is intoxicating, it's intoxicating." fostered a competitive and dynamic landscape that I have traveled for more than a decade, "Wright said," This experience and insight has enabled me to identify a different approach and I could not be more excited about starting a new business Build a new product and team to drive it forward. "

Meta founder Meron Gribetz is not mentioned in the announcement The new company's official statement bets that existing assets will benefit from someone taking a veteran veteran like Wright into the new version of Meta not part of the company's original team.

"Jay brings a broad perspective and strategy the table, "said Manor Zemer, managing director of Olive Tree Ventures in Israel. "He has a deep understanding of AR applications, technologies and barriers and is uniquely positioned to leverage his expertise to develop a product that combines both technological capabilities and market needs with real added value."

The most important news is that while the new company will continue to support Meta 2 owners, they will no longer offer the Meta 2 device for sale. And in case there is any doubt about how aggressively the new version of Meta will attack the market, the new owners are also publicly announcing that they would like to hire new team members for corporate locations in San Mateo and San Diego, California. and Tel-Aviv, Israel (those interested can contact careers@metavision.com).

The new owners have not addressed publicly directly the pending patent litigation, but with their new leadership team. We hope to hear more details on this issue over the coming weeks and months.

This is an impressive and welcome turnaround for a product that pioneered Augmented Reality years ago and has received widespread acclaim from AR insiders. And while the old team and former owners are no longer part of the story, the owners of Meta 2 can now count on their investment, and the fans of the former company can look forward to future reiteration of the Meta-produced AR product line and rejoice from the new team.

This is probably not the exact result Gribetz wanted, but for AR fans and Meta fans, it's a happy ending.

Do not Miss: The Rise & Fall of Meta – Founder of AR Pioneer reveals insider information that led to new owners for sale


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