Altspace VR is shutting down on August 3rd..
This came as a surprise to fans and supporters of the studio; Altspace VR after all are responsible for events such as Bill Nye the Science Guy, Speed Friending, and Microsoft Meetups. Altspace VR has been known over the world as the leading social platform for virtual reality. It’s been considered the go to place for people who want to socialise and meet people and friends. What made their service so beloved and handy was that it was completely free. By downloading the App you could pick a venue and create what you needed without any cost.
It came as a huge surprise that the studio has filed for bankruptcy with an end date of August 3d. While the studio hasn’t made any public announcements regarding any hidden reasons. Reporters have speculated that the sudden file for bankruptcy is due to investors pulling out of the project. Whether there is anything to that story is unclear.
In latest news published by Altspace VR, over 35000 unique users use their services monthly to create and host custom events.
What will happen to the company?
In a recent interview, a spokesperson from Altspace VR stated that they are unsure what fell through. They had an investment opportunity lined up in 2015 to secure the survival of the service for the next few years. Unfortunately, it mysteriously fell through because investors pulled out.
Perhaps Altspace will be bought by another company and the service can survive under another platform without being changed. Thousands of people have relied on these virtual hangout services in a safe and clean environment. Hopefully Altspace finds a last minute alternative.
Altspace will be holding a farewell party on August 3rd for their employees and closest backers. We wish them good luck in the future and the best of luck.