Meta New

A new company called Meta View has emerged with the IP assets of Meta, a failed augmented reality (AR) pioneer. How new are we talking? Meta View came out of stealth mode a few hours ago.

The backstory: Meta entered the AR market in 2012 to compete against the likes of HoloLens and Magic Leap in the high-end headset space. It struggled to gain a foothold with its $949 Meta 2 hardware and funding dried up. Like many AR startups, Meta became an ex-AR startup when it shuttered in January.

Meta View will tailor Meta’s proprietary AR work for a specific (unknown) use case instead of taking its predecessor’s generalist approach. Olive Tree Ventures and BSGN Capital, two early-stage Meta investors, have now lined up behind the new Meta View.

Next steps: Former Qualcomm exec Jay Wright, Meta View’s CEO, isn’t starting from scratch. But to succeed where Meta failed, he needs a standout product and paying customers. This means Meta View’s new goods will likely be made for businesses.