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Andrew "Boz" Bosworth is an American business executive who has been chief technology officer at Meta since January 2022. After graduating from Harvard University in 2004, he worked as a developer on Microsoft Visio for almost two years, then joined Mark Zuckerberg at Facebook in January 2006, where he helped create News Feed .
The Reality Labs unit is the result of the merger of several initiatives under Meta Platforms and the incorporation of several acquired companies. This includes CTRL-Labs founded by Thomas Reardon which develops non-invasive neural interface technology as well as Oculus , a company that was founded in 2012 by Palmer Luckey , Brendan Iribe ...
Palmer Freeman Luckey (born September 19, 1992 [2]) is an American entrepreneur best known as the founder of Oculus VR and designer of the Oculus Rift, a virtual reality head-mounted display that is widely credited with reviving the virtual reality industry.
Meta's Reality Labs division is still bleeding billions of dollars a quarter. Reality Labs reported a loss of $4.48 billion in its second quarter earnings, while its revenue was only $353 million.
Meta's Reality Labs division has lost nearly $50 billion in the last five years. Yahoo Finance spoke to several former employees about what's happening inside Mark Zuckerberg's virtual world.
According to Reuters, Reality Labs lost $10.2 billion in 2021 and another $3 billion in Q1. Also Read: Here's How Meta Looks To Monetize Its Metaverse Recently, Meta informed about decreasing hiri
Meta has also acquired Oculus (which it has integrated into Reality Labs), Mapillary, CTRL-Labs, and a 9.99% stake in Jio Platforms; the company additionally endeavored into non-VR hardware, such as the discontinued Meta Portal smart displays line and partners with Luxottica through the Ray-Ban Stories series of smartglasses. [21] [22]
Advertising revenue came in at $39.8 billion versus expectations of $39.7 billion, while Meta’s Reality Labs segment, which includes sales of its Quest augmented reality line of headsets, saw ...