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Mergers: Google buys Lytro for $40 millions
  • Multiple sources tell us that 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.

    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. A third source tells 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.

    https://techcrunch.com/2018/03/20/sources-google-is-buying-lytro-for-about-40m/

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  • At Lytro, we believe that Light Field will continue to shape the course of Virtual and Augmented Reality, and we’re incredibly proud of the role we’ve been able to play in pushing the boundaries of what’s possible. We’ve uncovered challenges we never dreamed of and made breakthroughs at a seemingly impossible pace. We’ve had some spectacular successes, and built entire systems that no one thought possible. More importantly, we built a team that was singularly unified in its focus and unrivaled in its dedication. It has been an honor and a pleasure to contribute to the cinema and Virtual Reality communities, but starting today we will not be taking on new productions or providing professional services as we prepare to wind down the company. We’re excited to see what new opportunities the future brings for the Lytro team as we go our separate ways. We would like to thank the various communities that have supported us and hope that our paths will cross in the future.

    Yep.