Microsoft buys VR social network AltspaceVR

Microsoft announced that it has acquired the virtual reality social network, AltspaceVR that enables users across headset and web platforms to join 3D chat rooms to play games, watch videos and attend events. Terms of the deal were not disclosed.

Originally founded in 2013, AltspaceVR raised $15 million from investors including GV (formerly Google Ventures) and Comcast Ventures. The service provided virtual reality meeting spaces for people to hang out, play games, and watch videos together.

"We welcome the talented team at AltspaceVR to Microsoft. AltspaceVR is one of the pioneers in immersive communications bringing people together in virtual reality from over 160 countries to attend meetups, comedy shows, yoga classes, dance parties, and large-scale events hosted by NBC, Reggie Watts, Justin Roiland, Drew Carey and more," said Alex Kipman, Microsoft's Mixed Reality Head.

"With the AltspaceVR team onboard we look forward to building the world's preeminent mixed reality community," he further added. The acquisition of AltSpaceVR is a good news for the company, as recently it was shut down due to funding issues, only to re-open a few days later. With Microsoft taking over, the company can take a deep breath and enjoy the stability afforded by the platform.

AltspaceVR has hosted comedians Reggie Watts and Drew Carey, and science personality Bill Nye. AltspaceVR even partnered with NBC News to host live events during the 2016 presidential election. It is accessible with Google Daydream, Samsung's Gear VR, the Oculus Rift and the HTC Vive.