Meta To Acquire a VR Fitness App

The Federal Trade Commission’s (FTC) plea to stop Meta from acquiring virtual reality startup Within has been rejected, reported Bloomberg. Judge Edward Davila released an official ruling sealing the decision and permitting the transaction to move forward.

FTC Sued for Anti-Competitive Acts

In July, the FTC took legal action against Meta to prevent their acquisition of Within—the designers behind Supernatural, a VR fitness app. This move was made due to Meta’s history of acquiring emerging virtual reality technologies to fuel their venture into the metaverse. When this case appeared before a court in December, the Federal Trade Commission argued that Supernatural is an immediate rival for Beat Saber—a widely used virtual reality rhythm game utilized by individuals seeking physical exercise.

In 2019, Meta acquired the studio behind Beat Saber called Beat Games. Additionally, Oculus jumped on board in 2014 through a major $2 billion investment to power Meta’s flagship Quest headsets. To top it off, at the end of 2022, Meta sealed its deal with Luxexcel – a groundbreaking smart eyewear company – yet details regarding this acquisition have not been made public knowledge as of now.

Meta Has Offered Partnerships To the Companies In The Past

Meta Has Offered Partnerships To the Companies In The Past

When the FTC asked Zuckerberg to provide testimony, government lawyers revealed emails from March 2021 that proposed a Beat Saber-Peloton partnership. Zuckerberg declared this idea was no longer viable, due in part to Meta’s weakening financial state and Apple policy modifications. Consequently, any joint venture between beat Saber and Peloton is now impossible since Meta has experienced a decline in their finances, as testified by Zuckerberg himself.

Zuckerberg revealed that his primary focus in the virtual reality industry lies on socializing, gaming, and productivity; instead of physical activity. Consequently, Meta recently unveiled their Quest Pro – a capable headset designed to promote remote working opportunities.

Despite Judge Davila’s approval, Meta is currently blocked from officially acquiring the company while the FTC considers its next move. According to the Bloomberg reportage, the federal agency can still appeal against this ruling and thus place a temporary ban on completing the transaction.

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Emma Horvath

After graduating Communication and Media Studies MA in Eötvös Loránd University, Emma started to realize that her childhood dream as a creative news reporter committed to find dynamic journalism stories. I'm a passionate journalist with a keen interest in the fast-evolving world of cryptocurrencies. I've been reporting on the latest developments in the crypto industry for several years now, covering breaking news and providing insights on how the market is trending. I'm adept at analyzing daily market movements, researching ICOs, and keeping track of the latest innovations in blockchain technology. My expertise in the space makes her a trusted voice in the crypto community. Whether it's the latest Bitcoin price movements or the launch of a new DeFi platform, I am always at the forefront, bringing her readers the most up-to-date and informative news.

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