Reality Labs

Reality Labs
Formerly	Facebook Reality Labs (2020⁠–⁠2021)
Company type	Division
Founded	2020
Headquarters	United States
Area served	Worldwide
Key people	Palmer Luckey; Andrew Bosworth; Michael Abrash; Thomas Reardon; Yann LeCun;
Products	Meta Quest 3; Quest 2; Meta Quest Pro; Ray-Ban Stories; Horizon Worlds;
Revenue	US$1.896 billion (2023)
Operating income	-US$16.1 billion (2023)
Number of employees	17,000 (2022)
Parent	Meta Platforms
Website	about.meta.com/realitylabs
	Footnotes / references;

Reality Labs, formerly Oculus VR, is a business and research unit of Meta Platforms (formerly Facebook Inc.) that produces virtual reality (VR) and augmented reality (AR) hardware and software, including virtual reality headsets such as the Quest, and online platforms such as Horizon Worlds. In June 2022, several artificial intelligence (AI) initiatives that were previously a part of Meta AI were transitioned to Reality Labs. This also includes Meta's fundamental AI Research laboratory FAIR which is now part of the Reality Labs - Research (RLR) division.^[2]

The Reality Labs unit is the result of the merger of several initiatives under Meta Platforms and the incorporation of several acquired companies. This includes CTRL-Labs founded by Thomas Reardon which develops non-invasive neural interface technology as well as Oculus, a company that was founded in 2012 by Palmer Luckey, Brendan Iribe, Michael Antonov and Nate Mitchell to develop a VR headset for video gaming.^[3]^[4]

^ "Meta Platforms, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 2, 2024. p. 60.
^ Fried, Ina (June 2, 2022). "Meta reorganization aims to decentralize Facebook's AI efforts". Axios. Retrieved January 23, 2023.
^ Statt, Nick (September 24, 2019). "Facebook acquires neural interface startup CTRL-Labs for its mind-reading wristband". The Verge. Retrieved January 23, 2023.
^ O'Reilly, Lara (March 26, 2014). "Facebook acquires virtual reality headset maker Oculus Rift for $2bn". Marketing Week. Retrieved January 23, 2023.

[10K-1] "Meta Platforms, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 2, 2024. p. 60.

[2] Fried, Ina (June 2, 2022). "Meta reorganization aims to decentralize Facebook's AI efforts". Axios. Retrieved January 23, 2023.

[3] Statt, Nick (September 24, 2019). "Facebook acquires neural interface startup CTRL-Labs for its mind-reading wristband". The Verge. Retrieved January 23, 2023.

[4] O'Reilly, Lara (March 26, 2014). "Facebook acquires virtual reality headset maker Oculus Rift for $2bn". Marketing Week. Retrieved January 23, 2023.

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