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Google Is Buying Innovative Camera Startup Lytro For $40 Million (techcrunch.com)
According to TechCrunch, Google is acquiring Lytro, the imaging startup that began as a ground-breaking camera company for consumers before pivoting to use its depth-data, light-field technology in VR. From the report: One source described the deal as an "asset sale" with Lytro going for no more than $40 million. Another source said the price was even lower: $25 million and that it was shopped around -- to Facebook, according to one source; and possibly to Apple, according to another. A separate person told us that not all employees are coming over with the company's technology: some have already received severance and parted ways with the company, and others have simply left. Assets would presumably also include Lytro's 59 patents related to light-field and other digital imaging technology. The sale would be far from a big win for Lytro and its backers. The startup has raised just over $200 million in funding and was valued at around $360 million after its last round in 2017, according to data from PitchBook. Its long list of investors include Andreessen Horowitz, Foxconn, GSV, Greylock, NEA, Qualcomm Ventures and many more. Rick Osterloh, SVP of hardware at Google, sits on Lytro's board. A pricetag of $40 million is not quite the exit that was envisioned for the company when it first launched its camera concept, and in the words of investor Ben Horowitz, "blew my brains to bits."
The VCs already put in $200M, and they likely had a controlling stake, so they had to acquiesce to this sale. Most likely they faced a choice of either putting up more capital, or selling it at a loss for whatever they could recover.
I had a feeling they were going to be acquired by someone, it could've been worse than Google. Google's more likely to license the patents and tech than to sit on it all and make it exclusive to Google platforms. Cardboard/Daydream have decent penetration in the VR marketplace, but I can't see Google making lightfield videos exclusive to those. Facebook/Oculus has enough games/experiences 'exclusive' to their platform that they might've done that, though.
Corruption is convincing someone that the selfless ideal is the same as their selfish ideal.
They already do. Most of the items you buy will be from one of 10 companies. .
Click that image to embiggen it, because practically everything you eat, drink, or clean yourself with will be there.
Peapod is still around and popular in the East Coast of the US. Delivering groceries is actually useful.
I'm fairly sure that using the word "prosumer" is punishable by a hefty fine and several months in prison in most countries.
To have a right to do a thing is not at all the same as to be right in doing it