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Magic Leap confirms $502M Series D round

32 points by kartikkumar 9y ago

JosephLark 9y ago
> It’s still not totally clear what Magic Leap is doing, but it sure has raised a ton of money (more than $1.9 billion) in order to do whatever it is that it’s doing. To date, we’ve been able to gather that the company may be launching a device called “Magic Leap One.” And last month, Bloomberg suggested Magic Leap may be gearing up to ship that device to a “small group of users” in the next six months or so. That might be the most I've heard about what they're doing and when it might be available. I've read some "leaks" in the past, but nothing that has stuck with me. Anyone got any info?
- k__ 9y ago
  I thought they make something like the hololens. The USP seems to be direct retina projection instead of a regular display.
drcode 9y ago
Well... at this point if Magic Leap doesn't release a portable device that can EXACTLY reproduce that elephant sitting in your hand as in their first concept video, I'm going to be pretty miffed at the press release noise they've polluted the internet with for the last 5 years.
- joshmn 9y ago
  I don't know how they expect humans to use this device. Elephants are very heavy.
georgeecollins 9y ago
That is actually a smaller amount than their series C. They have raise more than a $1b, which is scary for a company without a product for sale.
holman 9y ago
Congrats on the $1.9B preseed raise! Looking forward to the MVP.
misterHN 9y ago
These people sound like gangsters with radiation weapons intended to consciously manipulate people. Nothing about Magic Leap is remotely consistent with the common sense restrictions on private associations that Machiavelli outlined. This article is more free advertising for a group of individuals who have no business not being in jail considering their gleeful manipulation of the public. Abusing the USA financial news networks in order to build a brand based on psychological manipulation is a crime. It was recognized as a crime, namely subverting society, hundreds of years ago. We have political elites in order to clean this trash out of society. We rely on our political class to get rid of this filth.
jgalt212 9y ago
I like this quote: > It’s still not totally clear what Magic Leap is doing, but it sure has raised a ton of money (more than $1.9 billion) in order to do whatever it is that it’s doing.
ilaksh 9y ago
I think getting $2 billion without having a product to sell is a pretty good magic trick.
cujic9 9y ago
This comes down to VC firms saving face. Early investors look less foolish with each additional round. If you were one of the VC firms in Round A ($50M), Round B ($542M), or Round C ($793M) would you come out and say, "Yeah, we were hoodwinked." and invite professional blowback? Or would you help Magic Leap with their next round of investment, until so many big names were on board that nobody could blame you for jumping in?
joshontheweb 9y ago
I can’t imagine the pressure of having raised 2bn!!! and needing to create a decent ROI for investors.

32 points by kartikkumar 9y ago

> It’s still not totally clear what Magic Leap is doing, but it sure has raised a ton of money (more than $1.9 billion) in order to do whatever it is that it’s doing. To date, we’ve been able to gather that the company may be launching a device called “Magic Leap One.” And last month, Bloomberg suggested Magic Leap may be gearing up to ship that device to a “small group of users” in the next six months or so. That might be the most I've heard about what they're doing and when it might be available. I've read some "leaks" in the past, but nothing that has stuck with me. Anyone got any info?

k__ 9y ago
I thought they make something like the hololens. The USP seems to be direct retina projection instead of a regular display.

drcode 9y ago

Well... at this point if Magic Leap doesn't release a portable device that can EXACTLY reproduce that elephant sitting in your hand as in their first concept video, I'm going to be pretty miffed at the press release noise they've polluted the internet with for the last 5 years.

joshmn 9y ago
I don't know how they expect humans to use this device. Elephants are very heavy.

georgeecollins 9y ago

That is actually a smaller amount than their series C. They have raise more than a $1b, which is scary for a company without a product for sale.

holman 9y ago

Congrats on the $1.9B preseed raise! Looking forward to the MVP.

misterHN 9y ago

These people sound like gangsters with radiation weapons intended to consciously manipulate people. Nothing about Magic Leap is remotely consistent with the common sense restrictions on private associations that Machiavelli outlined. This article is more free advertising for a group of individuals who have no business not being in jail considering their gleeful manipulation of the public. Abusing the USA financial news networks in order to build a brand based on psychological manipulation is a crime. It was recognized as a crime, namely subverting society, hundreds of years ago. We have political elites in order to clean this trash out of society. We rely on our political class to get rid of this filth.

jgalt212 9y ago

I like this quote: > It’s still not totally clear what Magic Leap is doing, but it sure has raised a ton of money (more than $1.9 billion) in order to do whatever it is that it’s doing.

ilaksh 9y ago

I think getting $2 billion without having a product to sell is a pretty good magic trick.

cujic9 9y ago

This comes down to VC firms saving face. Early investors look less foolish with each additional round. If you were one of the VC firms in Round A ($50M), Round B ($542M), or Round C ($793M) would you come out and say, "Yeah, we were hoodwinked." and invite professional blowback? Or would you help Magic Leap with their next round of investment, until so many big names were on board that nobody could blame you for jumping in?

joshontheweb 9y ago

I can’t imagine the pressure of having raised 2bn!!! and needing to create a decent ROI for investors.