AltspaceVR Is Back From the Dead

Social VR pioneer had shut down earlier this month after funding fell through
altspacevr is back.jpg

AltspaceVR will live on as it has entered "deep discussions” to keep the social VR service afloat, the company explained in an email sent Tuesday night to its community.

It’s an about face, as AltspaceVR, a startup that counted Comcast Ventures among its backers, announced late last month that it was shutting down the service on the evening of August 3 after a fresh batch of funding fell through.

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“AltspaceVR is going to live on,” the company explained in the email. “You all made this happen by sharing memories, videos, tweets, and emails. You told the world how much AltspaceVR meant to you and how you had made good memories and lasting friendships. Your messages of encouragement brought us smiles during a pretty gloomy time.”

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AltSpaceVR, the company added, is “now deep in discussions with others who are passionate about AltspaceVR who want to guarantee that our virtual oasis stays open.”

AltSpaceVR also spread the word on Twitter that the service had been resurrected:

Altspacers are celebrating tonight!

— AltspaceVR (@AltspaceVR) August 16, 2017

According to TechCrunch, AltSpaceVR is being operated by a “skeleton crew,” while also pointing out that Palmer Luckey, the Oculus co-founder who left Facebook earlier this year, tweeted a poll in late July asking if he should try to save AltSpace VR (67% have voted “yes”)

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Last month, the company said about 35,000 people use AltspaceVR’s platform every month, with the average user spending 35 minutes a day in its virtual world.

AltSpaceVR didn’t announce details of any new funding coming in the door, but noted that it expects to share more soon, and that it will “pump some life” into the service over the next few weeks.

AltspaceVR raised a $10.3 million Series A round in 2015 that included participation from Comcast Ventures, Tencent, Dolby Family Ventures and Promus Ventures, among others. AltspaceVR, founded in 2013, has raised $15.7 million, according to CrunchBase.

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