Meta’s VR App Funding Retreat Forces Developers to Slash Staff

The Information · Sylvia Varnham O'Regan · last updated November 5, 2024 – 10:24 AM

Meta Platforms is becoming more discriminating in its spending for games and other apps for its Quest mixed reality headsets.

Over the past year, as Meta has confronted weakening sales in the mixed reality market, its staffers have been rethinking the millions of dollars it spends on app development. In recent months, the company has closed one internal virtual reality studio and cut funding for some outside app developers, as it shifted its focus to genres where it sees more traction.

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