The Triangle LivingThe Triangle Living
  • Home
  • Latest News
  • Real Estate
  • Business
  • RTP
  • Chatham Park
  • Food and Drink

Subscribe to Updates

Get the latest Real Estate, Finance news directly to your inbox.

What's Hot

Raleigh luxury homes in high demand

September 27, 2023

Cassie Hill – Chatham Park Homes

September 21, 2023

Meet the Young Artist Behind the Whimsical Illustrations at Parker and Otis

September 19, 2023
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube Telegram
The Triangle LivingThe Triangle Living
Consult Subscribe
  • Home
  • Latest News
  • Real Estate

    Raleigh luxury homes in high demand

    September 27, 2023

    Average U.S. mortgage rate climbs to highest level in 21 years

    August 18, 2023

    Raleigh Real Estate Market Forecast: What to Expect in the Next 5 Years

    August 11, 2023

    Why Raleigh is the Ideal City for Real Estate Investors

    August 11, 2023

    Navigating the Durham Real Estate Market: Tips for Buyers and Sellers

    August 11, 2023
  • Business
  • RTP
  • Chatham Park
  • Food and Drink
The Triangle LivingThe Triangle Living
Home » Meta, Facebook parent, expands Reality Labs in Durham
Business

Meta, Facebook parent, expands Reality Labs in Durham

Press RoomBy Press RoomSeptember 2, 2022No Comments2 Mins Read6 Views
Facebook Twitter Telegram Tumblr Reddit WhatsApp
Share
Facebook Twitter LinkedIn Pinterest Email

As it pivots toward the metaverse, Facebook’s parent company Meta is investing heavily in virtual and augmented reality technologies, incurring big losses in the belief that larger gains lay ahead.

And while the tech giant remains mum about its local plans, recent job postings indicate Durham will play a growing role in this transition.

In the past two weeks, Meta has listed multiple Durham-based jobs on LinkedIn, including managerial positions with Reality Labs, the company’s VR and AR division. Meta has other current job postings that explicitly include Durham as a possible work location alongside other tech hubs like San Francisco, New York and Austin.

To what extent Meta is expanding in the Bull City remains unclear. In June, The News & Observer reported that Meta was hiring to fill several Reality Labs roles in Durham, and WRAL, citing unnamed sources, reported the company’s local presence would be “significant.”

In an email Thursday to The News & Observer, Meta declined to comment on its future plans for Reality Labs and Durham.

Durham is set up for the metaverse

The metaverse is a broad term for a network of immersive, virtual spaces where users can interact with each other.

In addition to Meta, companies like Google, Roblox, and Cary-based Epic Games have developed (or are developing) their own metaverse platforms on which people can exercise, conduct work meetings, take a class, go shopping, enjoy virtual trips or just hang out.

Reality Labs is the successor to Oculus, the VR technologies company Facebook acquired in 2014 for $2 billion.

Since then, Meta has enhanced its commitment to Reality Labs, reporting a $2.8 billion operating loss in the second quarter of this year. Despite its expenses dwarfing its revenues — which came mostly from sales of its Quest 2 VR headsets — Reality Labs will remain “an area in which we are going to be increasing investment,” said Meta’s chief financial officer Dave Wehner during a July 27 earnings call.

As the company expands Reality Games, it makes sense it would look toward Durham said Roger Christman, an associate professor of communications and simulated game design at William Peace University in Raleigh.

“Because we have Epic, and IBM, and Cisco, there’s some talent already here,” he said. “And so, I think that not just from the universities, but from competing enterprises, there’s a lot Meta can recruit from.”



Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous ArticleTriangle housing market no longer favors sellers
Next Article Zero-down payment mortgages coming in some Black, Hispanic communities including Charlotte, says BofA

Related Posts

Investing in the Triangle: Why Raleigh-Durham Is Attracting Venture Capitalists

August 11, 2023

RTP Attracts Global Investment: Examining the Region’s Success in Foreign Direct Investment

August 11, 2023

RTP Networking Events: A Catalyst for Innovation and Collaboration

August 11, 2023

Raleigh’s Growing Start-up Scene: A Look at the City’s Thriving Entrepreneurial Hub

August 11, 2023

Women in Business: Celebrating Durham’s Female Entrepreneurs and Leaders

August 11, 2023

Raleigh-Durham’s Retail Revolution: The Changing Face of the Local Business Scene

August 11, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Cassie Hill – Chatham Park Homes

September 21, 2023

Meet the Young Artist Behind the Whimsical Illustrations at Parker and Otis

September 19, 2023

Celebrate Grandparents Day 2023 With the Sweetest Grandma & Grandchild Duo

September 7, 2023

Subscribe to Updates

Get the latest Real Estate, Finance news directly to your inbox.

Advertisement

Your Top Source for the latest Real Estate, Finance, Business and general news about North Carolina, Follow us to get the latest news from the most trusted sources.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Top UK Stocks to Watch: Capita Shares Rise as it Unveils

January 15, 2021
8.5

Digital Euro Might Suck Away 8% of Banks’ Deposits

January 12, 2021

Oil Gains on OPEC Outlook That U.S. Growth Will Slow

January 11, 2021

Subscribe to Updates

Get the latest Real Estate, Finance news directly to your inbox.

© 2023 The Triangle Living. All rights reserved.
  • About
  • Privacy Policy
  • Terms and Conditions
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.