AltspaceVR will not be the end of VR companies

We are truly saddened to hear that AltSpaceVR is closing their doors on August 3rd. For many of us in the VR space, they paved the road to virtual reality being mainstream.

AltspaceVR had an impressive user base with an average 35,000 users a month. Their average user spent 35 minutes a day in VR. Those are impressive statistics! Altspace hosted concerts and interviews with people such as Bill Nye. Their events drew crowds of 1,000 people.

AltspaceVR closing their doors is also a lesson for the rest of us. As Robert Scoble, an authoritative blogger in the tech world, said, “our industry needs to look at itself deeply.” Scobleclaimed that out of 1,000 entrepreneurs he spoke to, only three had a HTC Vive or Oculus Rift. Schoble claims that everyone should move to Apple’s AR technology. However, what we’ve seen is that VR works very well for specific use cases, which we have identified. Just because VR had a slow start to 2017 and we’re seeing AltspaceVR close its doors does not mean this tech is dead in the water. In fact, it’s far from it.

VR investment had a record year in 2016 of $2.3 billion. The hype from 2016 cooled off investment in VR/AR in the beginning of 2017. However, we’re already starting to see a rise in VR/AR investment in Q2 of this year, “AR/VR Dealmakers invested over $800 million dollars in Q2 2017” which is especially impressive because those numbers are without Magic Leap in the picture. These are the stats and figures that we should be looking at when analyzing the VR industry.

It hurts our heart to see a VR company fail, but their failure allows us to learn from their experiences. We are going strong at Doghead Simulations with 300 global users participating in our Early Access Program. We continue to speak and demo at events around the world as we move to our launch date. Our product, rumii, is a solution to a problem all companies face: poor telecommunication experiences.

Interested to see what we are all about? Check out our monthly meetups or experience rumii first hand at OrlandoiX and Seattle Startup Week.

Even better, join our FREE Early Access Program to use rumii first hand.

People gather in rumii to discuss VR applications for their businesses.

People gather in rumii to discuss VR applications for their businesses.