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Alibaba reportedly cuts dozens from metaverse unit

[Nov 4 4:54 AM] The Chinese e-commerce giant has become the latest to slash resources for metaverse development as the focus shifts to AI. 

Former BAYC creative director Jeff Nicholas joins Meta’s Reality Labs

[Aug 17 6:21 PM] Nicholas joins Meta as an executive mixed reality producer for entertainment experiences.

Meta burns another $4.5B on metaverse in Q2, preps for AI growth

[Aug 1 4:15 AM] Meta’s share price popped 7% in after-hours trading following a better-than-expected Q2 earnings call.

Meta drops 15% on weak outlook and high AI and metaverse spending

[Apr 24 5:30 PM] Meta shares dipped after a disappointing Q2 revenue outlook and plans to spend nearly $100 billion this year as it aims to “invest aggressively” in its AI products.

Meta’s Metaverse Is Finding Its Legs — In Avatars

[Sep 1, 2023 10:00 PM] Meta’s Horizon Worlds, the metaverse flagship app of the company formerly known as Facebook, is reportedly getting legs as part of users’ avatars in the coming weeks. The functionality is already present in a public test version of the…

Meta Q2 earnings: Reality Labs losses top $7.7B year to date

[Jul 26, 2023 4:51 PM] Meanwhile, Meta's metaverse-building business has racked up around $21 billion in losses since the start of 2022.

Metaverse division's $4B loss drags on positive first quarter for Meta

[Apr 26, 2023 6:11 PM] Zuckerberg expects Reality Labs operating losses to increase year-over-year in 2023.

Meta Calls 2023 a ‘Year of Efficiency;’ Anticipates More Losses in Its Metaverse Division

[Feb 4, 2023 12:30 AM] Meta, the company that owns Facebook, Instagram, and Whatsapp, has shared its fourth quarter results, reporting better numbers than expected. While the company beat revenue estimates, CEO Mark Zuckerberg declared 2023 a “Year of…

Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

[Feb 1, 2023 7:12 PM] During a Q4 earnings call on Feb. 1, Mark Zuckerberg said he saw no reason to deviate from their long-term Metaverse strategy.

Meta Will Continue to Push Metaverse Investments in 2023 According to Head Of Reality Labs

[Dec 20, 2022 5:00 AM] Meta will continue to invest in VR (virtual reality) tech in 2023, according to statements made by Andrew Bosworth, head of Reality Labs, the metaverse division of the company. While Meta has made some changes and adapted to the current shaky…

Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

[Nov 30, 2022 11:48 PM] Billions of dollars have been poured into Meta’s virtual world with little return on investment, but CEO Mark Zuckerberg says he is holding fast.

Meta Announces Layoffs Affecting 13% of Workforce; More Than 11,000 Employees to Be Fired Amidst ‘Cultural Shift’

[Nov 9, 2022 10:30 AM] Meta, the social network company, has announced that it will cut 11,000 jobs, letting go of 13% of the employees in its workforce amidst a “cultural shift” in the company. Mark Zuckerberg, CEO of the company, explained this decision was…