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Meta Closes Ready at Dawn Amid $4.5B Losses

Meta's Reality Labs faces budget cuts despite $4.5B losses. Ready at Dawn shut down to align with new financial goals.

by Lilu Anderson
Thu, Aug 8, 2024 5:51pm
in Virtual Reality
• 2 mins read
14.8k
Meta Closes Ready at Dawn Amid .5B Losses | FinOracle

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Meta has reportedly shut down the game development studio Ready at Dawn as part of a strategic move to align its Reality Labs' operations with new budgetary restrictions. According to an internal memo from Gio Hunt, VP of Oculus Studios, the closure was effective immediately. This news follows a challenging second quarter where Reality Labs recorded significant financial losses amounting to $4.5 billion.

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