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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.

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 https://www.crunchbase.com/organization/magic-leap#/entity

tryingagainbro 9y ago
They must know something we don't or there's so much money laying around, so a certain % goes into trash. For the company it makes sense to have as much cash a possible, not even blue chip companies could raise cash in 2008. 2008 is due to make a comeback IMO, in some form.
- api 9y ago
  Then why is it so damn hard to raise anything when you have a product that works and traction? Of course reality always pales in comparison to what might lie behind door number two.
  - tryingagainbro 9y ago
    Potential maybe? This market might bring an iPhone-like revolution
- sprafa 9y ago
  Patents alone probably make the valuation
Fricken 9y ago
There's a lot of 'lol, vaporware' type comments about Magic Leap, but taking some new fangled hardware from a crude proof of concept in a lab to the mass market in 7 or 8 years actually sounds like an ambitious timeline to me. These things usually take a long time. They also often end up going nowhere, which is why it's really surprising to see how much capital is being gambled. 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.
- mercer 9y ago
  I'm very skeptical of Magic Leap, but I really do hope they succeed. 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.
sekasi 9y ago
Look at the amount of jobs they are hiring for: https://www.magicleap.com/#/join https://www.magicleap.com/#/join Astounding.

tryingagainbro 9y ago

They must know something we don't or there's so much money laying around, so a certain % goes into trash. For the company it makes sense to have as much cash a possible, not even blue chip companies could raise cash in 2008. 2008 is due to make a comeback IMO, in some form.

api 9y ago
Then why is it so damn hard to raise anything when you have a product that works and traction? Of course reality always pales in comparison to what might lie behind door number two.
- tryingagainbro 9y ago
  Potential maybe? This market might bring an iPhone-like revolution
sprafa 9y ago
Patents alone probably make the valuation

Fricken 9y ago

There's a lot of 'lol, vaporware' type comments about Magic Leap, but taking some new fangled hardware from a crude proof of concept in a lab to the mass market in 7 or 8 years actually sounds like an ambitious timeline to me. These things usually take a long time. They also often end up going nowhere, which is why it's really surprising to see how much capital is being gambled. 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.

mercer 9y ago
I'm very skeptical of Magic Leap, but I really do hope they succeed. 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.

sekasi 9y ago

Look at the amount of jobs they are hiring for: https://www.magicleap.com/#/join https://www.magicleap.com/#/join Astounding.