Thursday, March 08, 2018

Magic Leap Raises $461 Million From Saudis - Bloomberg

Perhaps they'll create an AR app to simulate Six things women in Saudi Arabia cannot do (The Week)

"Magic Leap announced Wednesday that it had raised $461 million, mostly from Saudi Arabia’s sovereign investment arm. The company described the investment as the second closing of a round that totaled $963 million. The first part, announced in October, was led by Temasek Holdings Pte., Singapore's state-owned investment company.
 
Magic Leap has raised more than $2.3 billion to date, and has been valued at above $6 billion. Google, Alibaba and Morgan Stanley are already investors. 
 
The Florida-based company, which employs about 1,400 people, is working on an augmented reality headset that superimposes 3-D virtual images on the real world. Magic Leap says it will ship the device some time this year. In September, Bloomberg reported that the headset will cost $1,500 to $2,000, citing people familiar with company’s plans."
Magic Leap Raises $461 Million From Saudis - Bloomberg
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