It won’t be wrong to say that Reality Labs Got a $3.85B Reality Check as Meta Shares Drop 11%. Even though Meta was making record-breaking revenue. They were launching stunning products, but they have still recently faced a drastic drop. Moreover, Zuckerberg’s Metaverse Dream has also been affected by sudden changes in the company. In the article below, we will discuss how Meta will face financial challenges. And would it result in stopping investment in the development of Metaverse technology?
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Zuckerberg’s Metaverse Continued Investment in the Metaverse
Even though Meta Shares Drop 11%, the company is still not hesitating or afraid to invest. They are extremely focused and passionate about “Zuckerberg’s Metaverse Dream”, and reportedly, they are going to face 3 more such losses in the near future. Moreover, it seems like Zuckerberg has shown no signs of taking steps back. Because they don’t want their primary competitor to be the King in the market. Hence, this is why the mixed reality headset market is on fire these days.
Reality Labs Got a $3.85B Reality Check as Meta Shares Drop 11%
Metaverse division has reportedly made 440 Million USD in the first quarter of 2024. On the other hand, Reality Labs Got a $3.85B Reality Check, and Meta Shares Drop 11%. Which is quite shocking for the company. They have recently confirmed that they have spent way more on Reality Labs as compared to the Metaverse division, but still, it didn’t boost up.
What’s more shocking is that in the past 4 years, Reality Labs has lost 45 billion USD! Hence, a few analyst teams, such as StreetAccount, published that Meta has hit 515 Million USD in revenue in these three months.
Zuckerberg’s Metaverse Dream – Cost of Development
On the other hand, Zuckerberg’s dedication towards his Metaverse Dream is exceptional. He usually refers to it as the “next frontier”. And is imaging it as a technology that will introduce the real concept of elite productivity, enhancement, and recreation. Moreover, to reflect his theme and futuristic vision, he renamed Facebook to “Meta”.
Meta Shares Drop 11% – Constantly Competing with Apple
Further, in the current week, Meta also announced that they are planning to collaborate with 3rd-part companies. Such as Lenovo, ASUS, and Microsoft for the sake of mixed-reality headset tiled Meta Horizon OS. This constant evolution is firing up the constant competition with Apple, which is also in the same league.
Conclusion – Reality Labs Got a $3.85B Reality Check
Even after having a dip of $3.85B, Meta has a strong vision towards the “Metaverse”. Unfortunately, the future is still uncertain, and we never know if the ambitions of Reality Labs are going to reshape the landscape of AR/VR experiences or not!
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