Improving online learning through meaningful collaborative experiences is a challenge that higher education institutions are facing nowadays. This paper aims to provide a deeper understanding of students’ assessment of a learning experience and its impact on the continuance intention of using virtual reality in business education. The study was conducted in a synchronous online business course in Mexico. A rally activity was held using a web-based virtual reality platform where students had to collaborate to answer different questions regarding Conscious Capitalism. Once the rally had finished, 56 students answered a survey intended to assess the quality of the learning experience and their continuance intention of using virtual reality in other courses. Findings indicate that students evaluate two dimensions of their learning experience: outcome and process-related aspects. The process-related dimension showed the highest correlation with the overall assessment. In addition, it was found that while both dimensions had a significant association with the continuance intention of using virtual reality, the outcome dimension had the highest correlation. These findings highlight the importance for educators to pay particular attention to these dimensions from the moment the activity is designed.