AR headset company Meta shutting down after assets sold to unknown company
Publication/Creation DateJanuary 18 2019
DescriptionMeta, maker of the Meta augmented reality headset, has been sold to an unknown company after a months-long struggle to keep its doors open. Next Reality unearthed a legal filing last week saying that Meta’s assets had been sold. Now, Meta is confirming the news — but expressing guarded optimism about the new owners.
According to both the legal filing and Meta CEO Meron Gribetz, the bank holding Meta’s debt foreclosed the company’s loan and sold all its assets. Gribetz isn’t revealing the buyer’s name, nor what it plans to do with its purchase. According to him, Meta had “very little” input in the asset sale, which took place as the company was attempting to raise more money. And he describes the move as unexpected — the buyer had apparently expressed interest in Meta’s assets, and the bank agreed to sell them.
Osterhout Design Group (ODG) is another augmented reality headset company that has also recently put its assets up for sale.
Date archivedJanuary 18 2019
Last editedFebruary 25 2019