Verizon Obtains the Assets of Disney-backed VR startup Jaunt

Verizon has obtained the technology, software as well as the other assets of the Disney-backed and VR startup Jaunt. The terms and conditions of this acquisition haven’t been disclosed though, but it seems it is the final chapter in Jaunt’s story. Jaunt is now in a dangerous position and it seems like Saga has come finally at an end as the startup has announced the purchasing of company’s technology by Verizon.

The startup in an announcement in the Monday morning stated that Jaunt would be assisting Verizon along with the transition of the chosen fraction of the technology and the software for a short time. Jaunt actually obtained more than $100 million funding with the backers including China Media Capital and Disney Evolution Media Partners. They developed $100,000 professional VR camera which was indeed 3D but later they refocused on professional VR content.

The company has given its previous years trying to sell the VR assets and wanted to pursue a business focusing on developing augmented reality. But Verizon is now walking away with the technological assets of Jaunt. The assets include the Jaunt’s VR tech as well as the new AR efforts.

However, it is confusing that why Verizon is running after the assets of Jaunt. It is because Verizon Media already owns some assets on their VR space, and these include the virtual reality content studio named RYOT. RYOT has been used to play 360 content as well as the general VR/AR content. The company is basically focused on creating more VR and AR apps to run more effectively on the mobile devices.

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Shahina Khatun

Shahina is a Web Developer, Content Writer, SEO Expert and Social Media Marketer.
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