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$500M sounds like a typo. That is absolutely unheard of for a stealth company. For reference, Oculus had a $75M round last December, and they had ignited an entire VR developer community. Uber had a record setting round earlier this year and raised $1.2 billion. But Uber is... well, Uber.

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Color raised 40M for an unlaunched app. This at least seems to have some real world utility.

They already raised $50mil Series A in February, it doesn't seem that unrealistic. Remember, a typical film budget for these guys easily breaks into the hundreds of millions.

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