Virtual reality startups like Spaces, a new Los Angeles-based VR shop, are in a race for eyeballs.
For some companies in the space, it’s about the wow factor of shiny hardware that gives users awe-inspiring VR experiences. For an enterprise like Spaces, which was launched by veterans of DreamWorks Animation with $3 million in funding, a key piece of the game plan is teaming up with bigger companies like media brands to get the startup’s VR content in front of as many people as possible.
That’s one reason, for example, Spaces secured a $30 million joint venture announced earlier this month between it and China-based Songcheng Performance Development Co. Ltd., one of the biggest theme park operators in the world. Spaces will be using tools and technology it’s developing specifically for theme parks to help bring VR and mixed reality into Songcheng’s properties, which drew almost 23 million people last year, according to Spaces.
Not bad for a company that’s only a few months old and was born out of its founders’ itch to capitalize on the exploding market for VR content and experiences. More →