One of the pioneers of augmented reality is going out of business.
Blippar, a London-based AR firm, has entered into administration—the British equivalent of filing for bankruptcy in the U.S.—and plans to lay off its entire workforce. The company cited an investor battle over whether to raise additional funds to grow its business-to-business division. (Blippar had at one time been valued at $1.5 billion.)
The news, announced in a blog post on Monday, comes even as the AR market heats up in the U.S.,
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