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After raising approximately $38 million from investors, augmented reality (AR) startup Ubiquity6 has been acquired by gaming chat app Discord.
The CEO of Ubiquity6, Anjney Midha announced the acquisition via a Medium post. However, neither of the companies have disclosed the terms of the contract.
The decision that led to this acquisition is not entirely unexpected. For several months, the company had been abandoning products it built for years because of its inability to find the level of acceptance required to scale up.
To perhaps drive customer interest, the AR firm had earlier in the year diversified and built a desktop app, named Backyard. The app allows multiple users to connect at the same time and enjoy a shared online experience. It integrates several mini-games and a video chat to create fun for its users.
The Backyard technology, as well as several other products like Displayland that didn’t quite gain traction all form part of the deal of the acquisition. “Our mission at Ubiquity6 has always been to unlock new ways for people to connect through shared experiences,” Midha wrote. She stated that the acquisition by Discord was simply going to help fast-track that mission.
Ubiquity6 was launched in 2017 with a vision to become the central way users with mobile devices access AR content. By early 2020, the business had 65 employees. The vision didn’t really get off the ground as there was no mass adoption of the apps despite major investments by tech giants, Apple and Google.
Of the $38 million raised by the AR firm, a total of $27 million was raised in a Series B funding drive in October 2018. Investors like Benchmark, First Round and Google Gradient Ventures led the funding dive.
Midha believes that with the acquisition, they can help to unlock shared experiences for up to 150 million people.