This company is now 7 years old and has no product.
Total raised: $1.39B[0]. The last round was almost $800M in Feb.
This $500M will bring the total to $1.9B.
Truly amazing.
0. https://www.crunchbase.com/organization/magic-leap#/entity
Total raised: $1.39B[0]. The last round was almost $800M in Feb.
This $500M will bring the total to $1.9B.
Truly amazing.
0. https://www.crunchbase.com/organization/magic-leap#/entity
All the hardware that went into the first iPhone (the last really breathtaking consumer gadget) was decades in the making, with many iterative intermediate steps along the way. Attempting to go from 0 to 60 in one product cycle is kind of crazy, but I'm not sure how else you would do it this day and age with expectations being so high, there's no room for anything half baked. Either you make the leap or you don't.
I would totally pay $2k for ar glasses that live up to the hype, though even under the best of circumstances, I don't expect Magic Leap to be living up to any hype for several more years.
Mostly I'm wondering how many examples we actually have of Magic Leap type situations actually ending up being a success.
While the iPhone was a breakthrough, it wasn't so much a breakthrough in pure technology (rather, it was mostly the innovative combination of existing tech). Furthermore, it had the weight and expertise of Apple behind it.
What examples do we have of companies similar to Magic Leap, where the success is dependent on true technical innovation in a space where they compete with some of the best and brightest working for BigCorps? Honest question. While I can think of many cases where the result proved to be 'vaporware', I can't think of many (if any) success-stories in this particular kind of situation.
https://www.magicleap.com/#/join
Astounding.