It is evident the VR industry offers a lot of new and existing business opportunities. Not all of these ventures will prove to be successful, though. In the case of Lytro, their “light field VR camera” seems to be well ahead of its time. The company will effectively wind down and most of its employees will jump ship to Google. This doesn’t mean the company will stop exploring new opportunities in the future, though.
A Major Change for Lytro
Some VR enthusiasts may have come across the name Lytro before. This particular company is building a light field camera in the VR industry. Unfortunately, it seems something has come up, forcing the company to no longer take on new productions or offering professional services. This is a bit of a vague statement, as no one knows for sure what the future will hold for the company as of right now.
More specifically, the company will “wind down” in the future, although they will still remain operational. As such, the company eagerly looks for new opportunities and services to make an impact. While most of the company’s employees are on the way out to Google, it is evident not everyone will leave the company in the near future…
There are several patents owned by this company which still hold some value. Google has officially acquired Lytro, but it seems they will not completely absorb the country as of right now. Some of the employees will move to Google, but the rest will remain at the firm itself. The employees jumping ship will focus on multiple divisions, and will no longer be a part of the Lytro’s previous camera work.
It is evident the camera technology developed by Lytro can be successful. Unfortunately, the lack of funding and limited success with their camera have forced the company to pursue other options. In 2015, the company already laid off a significant portion of its workforce before focusing on VR. It now seems that venture has not been overly successful either. A worrisome development, but the company still has some gas left in the tank, by the look of things.
If you liked this article make sure to follow us on twitter @thevrbase and subscribe to our newsletter to stay up to date with the latest VR trends and news.