Glue Collaboration, the Helsinki-based startup creating remote collaboration tools for XR, announced it has filed for bankruptcy, putting the future of its business-focused social platform Glue at risk.

CEO Jussi Havu announced the news on April 10th, stating that Glue Collaboration declared bankruptcy on April 8th, and that the Helsinki, Finland-based company would soon be liquidating its assets—undoubtedly the most important of which is the social XR platform Glue itself, which supports Quest and SteamVR headsets.

Havu says in an announcement (also seen below) that in the next two weeks, the company will be “exploring all options to secure a successor for the Glue service. As we cannot promise a definitive solution, users should prepare for the possibility that the Glue service may soon be discontinued.”

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“Unless a successor can be found, the company’s business operations will be discontinued within the course of two weeks or even earlier if the service providers for the company’s servers decide to shut the servers down or deny access due to unpaid invoices,” Havu says.

Founded in 2017, Glue’s most recent funding round was completed in 2019, raising a total of €3.5 million (~$3.85 million), leaving the company ostensibly well positioned to capitalize on the mass shift to remote work which which emerged in early 2020 as the result of the COVID-19 pandemic.

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Well before the first modern XR products hit the market, Scott recognized the potential of the technology and set out to understand and document its growth. He has been professionally reporting on the space for nearly a decade as Editor at Road to VR, authoring more than 3,500 articles on the topic. Scott brings that seasoned insight to his reporting from major industry events across the globe.
  • Xron

    Technology is not there yet.

  • ViRGiN

    VR is only for the titans and companies with balls.
    That’s why you don’t see any support from Valve for the medium.

    • ViRGiN I give a fuck what Valve does. They don’t.

      • ViRGiN

        Cumpetition is great

  • That’s so sad. I know the pain of this situation… big hugs to all Glue people, the product they did was amazing