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Magic Leap just raised a $350 million investment round as it tries to secure its future – read the email CEO Rony Abovitz sent employees

Magic Leap has secured $350 million in a new investment round as it tries to secure the future of the company. The financing was announced in an internal email to staff by CEO Rony Abovitz. The round included both existing and new investors, Abovitz said. The company is working on its next headset, Magic Leap 2, but has made a shift to the enterprise market. Are you a current or former Magic Leap employee? Contact this reporter using encrypted messaging app Signal (+1 628-228-1836) or email (h...
Tags: Trends, Information, Warner, Magic Leap, NTT Docomo, Rony Abovitz, Zimmer Biomet, Abovitz, Business Insider Magic Leap, Google Alibaba, Rony Join


Magic Leap reportedly slashes 1,000 jobs and steps away from consumer plans

Magic Leap laid off a “number of employees” this morning and announced they were backing away from their consumer ambitions to focus more heavily on selling to enterprise customers. Bloomberg reports that half of Magic Leap’s employees were laid off, roughly 1,000 in total. Magic Leap was in the process of exploring a sale, Bloomberg had also reported, one that could value the company at $10 billion. Magic Leap is one of the most well-capitalized consumer hardware startups ever, having raised...
Tags: Apple, Facebook, Florida, Hardware, Microsoft, Saudi Arabia, Tech, Bloomberg, Magic Leap, DAQRI, Rony Abovitz, Abovitz, Google Alibaba, Magic Leap Enterprise Suite


Alibaba Cloud revenue reaches $1.5B for the quarter on 62% growth rate

Alibaba issued its latest earnings report yesterday, and as part of that the Chinese eCommerce giant reported that cloud revenue grew 62% to $1.5 billion U.S., crossing the RMB10 billion revenue threshold for the first time. Alibaba also announced that it had completed its migration to its own public cloud in the most recent quarter, a significant milestone because the company can point to its own operations as a reference to potential customers, a point that Daniel Zhang, Alibaba executive chai...
Tags: Travel, Google, Amazon, Cloud, Asia, Enterprise, Microsoft, China, Alibaba, Earnings, Reuters, Zhang, Synergy Research, Alibaba Cloud, Google Alibaba, Daniel Zhang Alibaba


Magic Leap's CFO is stepping down after it was 'mutually decided' it was time for someone new. Read the email Magic Leap's CEO just sent to employees.

Magic Leap Chief Financial Officer Scott Henry is stepping down, Business Insider has learned. He will help on-board a new chief financial officer and act as an adviser to the company moving forward, according to an internal email obtained by Business Insider sent by Magic Leap's CEO to employees on Friday. "I want to let you know that Scott Henry and I have mutually decided that it is time for us to part ways," Magic Leap CEO Rony Abovitz wrote in the email. "Scott's leadership and his expert...
Tags: Apple, Japan, Florida, Microsoft, US, Trends, Warner Bros, Magic Leap, Axel Springer, Business Insider, Henry, Jpmorgan, Scott, Campbell, Dre, NTT Docomo


The 10 largest US venture rounds of 2018

Three U.S. companies raised more than $1 billion in just one funding round in 2018, a year in which total deal value for U.S. startups is expected to surpass $100 billion for the first time. For the most part, it was the usual suspects, and yes, SoftBank was an accessory in many of these rounds. Here’s a look at the 10 largest venture rounds of 2018. Epic Games: $1.25 billion The video game Fortnite Battle Royale was the star of the year 2018; more than 200 million players worldwide are regis...
Tags: Amazon, Startups, Lyft, Uber, New York, India, Softbank, Funding, US, San Francisco, Tech, Netflix, Canada, Atlantic, Middle East, Venture Capital


Magic Leap's futuristic goggles are finally launching — here's how much they cost and how to buy them

Magic Leap's long-awaited smartglasses are finally available to order in the United States. They cost $2,295 and will start shipping today for people in Chicago, Los Angeles, Miami, New York, San Francisco, and Seattle. The product is called "Magic Leap One Creator Edition" and it is intended for developers and other professionals who want to make content for the platform. 2,065 days after the multi-billion dollar augmented reality startup Magic Leap was revealed to the world in a cryptic TE...
Tags: Florida, Fcc, Saudi Arabia, Trends, United States, Nvidia, Magic Leap, Khan, Seattle, Gpu, Denver, Sand Hill Road, Arm Cortex, Aep, RGB, Omar Khan


Magic Leap shows off its Magic Leap One ‘Creator’s Edition’ AR headset, shipping in 2018

 At long last, the day has come. Magic Leap has shared a first look at what they’ve been building with the cash they’ve raised from Google, Alibaba and others. Today, the highly-valued augmented reality startup shared early details on the Magic Leap One “Creator’s Edition,” an AR headset for developers (“Built for Creators”) that the company says it…
Tags: Tech, Augmented Reality, Magic Leap, Google Alibaba, Magic Leap One


Magic Leap shows off its Magic Leap One ‘Creator Edition’ AR headset, shipping in 2018

 At long last, the day has come. Magic Leap has shared a first look at what they’ve been building with the cash they’ve raised from Google, Alibaba and others. Today, the highly valued augmented reality startup shared early details on the Magic Leap One “Creator Edition,” an AR headset for developers (“Built for Creators”) that the company says it will ship…
Tags: Tech, Augmented Reality, Magic Leap, Google Alibaba, Magic Leap One


After 6 years and $1.9 billion, secretive Magic Leap unveils its smart glasses for first time

Magic Leap on Wednesday revealed the name and design of its smart glasses. The company says the hardware will ship in 2018. Magic Leap didn't announce a price. Magic Leap updated its website on Wednesday morning, revealing its highly anticipated augmented-reality smart glasses for the first time. Billed as the Magic Leap One Creator Edition, the smart glasses feature an array of sensors on the front, connected via a wire to a battery and computing pack designed to be worn on the belt, matchi...
Tags: Florida, California, Singapore, Trends, Magic Leap, Rony Abovitz, Temasek Holdings, Abovitz, Google Alibaba, Lightpack, Lightwear


After 6 years and $1.9 billion, secretive Magic Leap unveils its product for the first time

Magic Leap revealed the name and design of its smart glasses on Wednesday. The company says that the hardware will ship in 2018. Magic Leap didn't announce a price.  Magic Leap updated its website on Wednesday morning, revealing its highly anticipated augmented reality smart glasses for the first time. Billed as the Magic Leap One "Creator Edition," the smart glasses include an array of sensors on the front, connected via a wire to a battery and computing pack that's designed to be worn on th...
Tags: Amazon, Florida, California, Singapore, Trends, Magic Leap, Rony Abovitz, Temasek Holdings, Abovitz, Google Alibaba, Lightpack, Lightwear


Magic Leap released 5 seconds of video showing its highly anticipated augmented reality software

Magic Leap showed off a 5-second video of a music app it developed with Icelandic rock band Sigur Ros.  The video is colorful and beautiful, but Magic Leap's hardware is not shown. Magic Leap has not announced when it will release its first product, which is a pair of smartglasses said to cost between $1,000 and $1,500.  Magic Leap is an unusual startup. It has mountains of money, raising $1.9 billion in funding from investors including Google, Alibaba, and Singapore's Temasek Holdings. It's ...
Tags: Florida, California, Singapore, Trends, Sigur Ros, Magic Leap, Pitchfork, Plantation Florida, Rony Abovitz, Temasek Holdings, Julia Gaynor, Google Alibaba, Sigur Ros YouTube


Weekly Inspirations: October 27th, 2017

Here are the things that I think are worth reading and checking out this week: Good is really good at design The stuff Google showed off on October 4 was brazenly designed and strangely, invitingly touchable. These gadgets were soft, colorful… delightful? They looked human, but like something future humans had made; people who’d gotten righteously drunk with aliens. You could imagine them in your living room, your den, your bedroom. Your teleportation chamber. A fuzzy little donut you can ...
Tags: Google, Google Play, Singapore, Inspiration, Sales, Magic Leap, Latest, Temasek, Ideo, Venn, Google Alibaba


Magic Leap Confirms $500 Million Finance Round led by Temasek

Mixed reality hardware startup, Magic Leap has confirmed that it has raised $502 million in a funding round led by Singapore’s sovereign wealth fund Temasek. The firm previously raised more than $1.3 billion from investors including Google, Alibaba and Qualcomm, and was valued $4.5 billion at the point of its last fundraise in early 2016. […]
Tags: Asia, News, Finance, Singapore, Global, Magic Leap, Qualcomm, Temasek, Google Alibaba


Magic Leap Seeks to Raise Another $500 Million (Report)

Mixed reality hardware startup Magic Leap is in talks to raise a new $500 million round of funding, according to Bloomberg. The new financing is reportedly being led by Singapore-based Temasek Holdings, and would value the company at around $6 billion. Magic Leap previously raised more than $1.3 billion from investors including Google, Alibaba and... Read more »
Tags: News, Singapore, Digital, Bloomberg, Augmented Reality, Magic Leap, Temasek Holdings, Google Alibaba


Check out these smartglasses designed by $4.5 billion startup Magic Leap

Magic Leap is a $4.5 billion Florida startup building a highly anticipated pair of smartglasses, and on Tuesday, a set of new smartglasses drawings from the company surfaced in a patent application.  The design patent application, originally filed in 2015, shows a skinny pair of glasses with oval goggle-like frames, and sensors on the right and left-hand sides of the headset. This is Magic Leap's second public design patent application.  The glasses are not Magic Leap's product, said Julia Gayno...
Tags: Apple, Google, Florida, Trends, Snapchat, Magic Leap, Gpu, Kpcb, Gaynor, The Financial Times, Julia Gaynor, Google Alibaba


The UN Believes Ads Can Turn the Tide in Long-Losing War for Gender Equality

In a world of doubters, someone still believes in the power of advertising: The United Nations.The UN Women organization came to Cannes this week to convene a sort of Security Council of the ad industry, including many of its biggest-spending marketers, three of the biggest agency holding companies, digital duopolists Facebook and Google, Alibaba, and more. The idea is that advertising can do what more than two decades of UN proclamations, local laws and good intentions haven't -- spur real prog...
Tags: Facebook, Advertising, United Nations, Un, Cannes, UN Women, Security Council, Jack Neff, Google Alibaba, Phumzile Miambo Ngcuka