According to court filings (via The Verge) and reports by news agency Reuters, Meta has delayed the acquisition within a month. This means that the company will not close the deal until January 31, unlike its August agreement that the deal will not be closed until 11:59 pm on December 31.
The FTC said Meta bought Into — the maker of the virtual reality fitness app Supernatural — to eliminate competition in the fitness market. It should be noted that Meta already owns hit the saber Which is like supernatural.
Speculation was rife that regulators might intervene in the company’s “growing dominance of the consumer VR market” for allegedly illegally monopolizing the VR industry. Meta has denied these allegations.
Meta CTO Andrew Bosworth has already said that “if this deal doesn’t close on time, we will probably walk away.”
Reality Labs operating losses
Earlier this year, Meta CFO Dave Weiner said the company had posted huge losses over the past two years. According to multiple reports, Meta faces losses of around $10 billion in 2021 and more than $9 billion in 2022 by November.
Reality Labs to lose $3.7 billion in Q3 2022. The executive also said that Reality Labs’ operating losses in 2023 will widen significantly year-over-year. Reality Labs is a Meta-owned business that produces virtual reality and augmented reality hardware and software, including virtual reality headsets such as the Quest.
meta quest pro and meta quest 3
Earlier this year, Meta launched its next-generation Quest Pro Mixed Reality headset. The company also confirmed that it will launch the next-generation Quest in 2023. The company’s CFO David Wehner said during an investors’ call that the company’s “next generation of consumer Quest headsets” would launch later next year.
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