After a $20 million funding round fell through, augmented reality headset maker Meta Company has been forced to furlough (or place on temporary leave of absence) approximately 65% of its workforce for 30 days.
On Monday, Meta CEO Meron Gribetz told Bloomberg that the funding round has been put on hold by lead investors from China, which placed remaining committed funding from other investors at risk as well.
“The Chinese government sent an official request to our lead investor to re-evaluate the deal based on the recent actions from the Trump administration,” Gribetz told Bloomberg. “This… more
Source: Meta Company’s Funding Fallout Followed by Furloughs, Report Says
