Glue, the enterprise collaboration social VR platform we first wrote about in November 2019, has declared bankruptcy. In an April 10, 2024 post on the Glue website, Glue CEO Jussi Havu wrote:
We regret to inform you that, following a decision by the Helsinki District Court, the company responsible for Glue was declared bankrupt on April 8, 2024. Despite our best efforts to prevent this outcome, we have not been able to find a timely solution.
Over the next two weeks we will be dedicated to exploring all options for securing a successor to the Glue service. We cannot promise a final solution, so users should prepare for the possibility that Glue service will be shut down soon.
The sale of the Company's assets is ongoing and at this stage the Bankruptcy Trust is unable to provide further information as to whether the Company's business operations may be sold to a person who wishes to continue the business. Unless a successor can be found, Company's business operations will be suspended within two weeks, or sooner if Company's server service provider decides to terminate a server or deny access to it due to non-payment of invoices.
We sincerely apologize for the disappointing results.
While updating my comparison spreadsheet of social VR platforms, I've already discovered that a miserable number of platforms I wrote about in 2019 no longer exist as of 2024. That includes popular services like AltspaceVR, which shut down almost exactly one year ago today. , March 10, 2023. The platform category, which I jokingly call YARTVRA (short for Yet Another Remote Teamwork Virtual Reality Application), has seen many companies come and go during the recent booming metaverse hype period. to give. Now that the metaverse hype has shifted to artificial intelligence, venture capitalists may have followed suit. So it's no surprise that companies like Glue struggle to find a viable business model.
One thing people or companies using social VR apps for remote teamwork, meetings, and conferences should keep in mind is don't put all your eggs in one basket! Research multiple platforms and be flexible. That way, you won't be caught off guard if the company whose products you've depended on goes bankrupt.
Sadly, we just found out today that the XR Collaboration website, which provided a very useful searchable directory for workplace social VR platforms, has folded. Find out if your boyfriend or husband is cheating!). This is another sign that the YARTVRA space as a whole is struggling.
Thanks to Carlos Austin for the tip!