- The modern workplace has undergone a radical shift in recent years, moving increasingly away from an office-centric model towards a more hybrid working environment
- Corporate employees are revealing they are increasingly spending more time in meetings, with over 77% of these taking place online
- Users can host and attend meetings in lifelike virtual reality – with no software downloads – engaging their audiences in a more collaborative and fun way
- In April 2022, the company launched the world’s first web-based, mobile-friendly, audio and video conference platform
Early on Tuesday 8th January 2019, WeWork announced that the company had successfully concluded a $6 billion funding round; the funding exercise – which would ultimately result in the single largest capital raise for a start-up in modern corporate history, valued WeWork at $47 billion on that occasion. At the time, WeWork was heralded as the ultimate disruptor, with Softbank CEO, Masayoshi Son branding the company as possessing a “technology platform that provides a complete solution for space needs” (https://ibn.fm/4bh4D). In-person work was thriving and WeWork had expanded ferociously, broadening its presence to over 425 sites across 27 countries in the nine years since its founding. Less than 14 months later, WeWork’s founder would be ignominiously ousted with the company’s market capitalization written down to a relatively measly $2.9 billion by its lead investor. Whilst WeWork may have symbolized the future of work at its peak in 2019, the global corporate reality in 2023 paints a starkly different picture. A recent study found that on average, professionals were spending over half of their 40-hour workweek in meetings, with 77% of that time spent in an online, videoconferencing environment (https://ibn.fm/ha7Lj) rather than engaging in an in-person meeting as was envisioned only a few years earlier. With employees the world over radically changing their work practices post the recent pandemic, companies are striving to cater to the dramatic shift in corporate and consumer needs; few however have been as impactful as Utopia VR.
Utopia VR is a diversified technology company, pioneering the concept of the ‘Metaverse-As-A-Service’, while centering its focus on the provision of virtual experiences for both businesses and consumer audiences. Launched in April 2022, Utopia VR’s metaverse solution has emerged as the world’s first…
NOTE TO INVESTORS: The latest news and updates relating to Utopia VR are available in the company’s newsroom at https://ibn.fm/Utopia
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