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Home / Tips and Tricks / Verizon takes over Jaunt after Startup moves from VR Services to Augmented Reality Focus «Next Reality

Verizon takes over Jaunt after Startup moves from VR Services to Augmented Reality Focus «Next Reality



It seems that Jaunt's turning point from VR to volumetric records of services for augmented reality experiences has paid off.

That's because Verizon has now taken over the company for an undisclosed amount, according to a short announcement by Jaunt on Monday. [19659002] "We are delighted with the acquisition of Jaunt & # 39; s technology by Verizon," said Mitzi Reaugh, president and CEO of Jaunt XR, in a statement. "The Jaunt team has built leading software and we are excited for the next chapter with Verizon."

Image by Jaunt / YouTube

Since its creation in 2013, Jaunt had made a name for itself based on its VR content services. That was until last October, when, less than two months after the unveiling of its 3D content capture service, the company unveiled its decision to close the VR services and layoffs. Among the victims of the business model change were co-founder and CTO Arthur van Hoff (now an Apple employee), whose term as CTO ended in October 2018, although he remained on board as an advisor at the end of the year. .

The pivot was the first major decision taken by Reaugh, who took over as CEO on October 1, 2018 – almost a year up to the day prior to the announcement of the company's acquisition of Verizon. Depending on the value of the acquisition, the decision to leave VR and focus on AR services can make its donors, including Disney and Google, very happy.