Last updated on December 8th, 2022 at 02:08 pm
Magic Leap Specializes in Augmented Reality
On the website of Magic Leap, which specializes in developing augmented reality devices, a message was posted yesterday under the loud heading “Paving a New Deal.” If we omit the description of the complexities of the current situation and the prospects of augmented reality technology contained in it and supplement it with unofficial information at the disposal of Bloomberg, we can say that the startup, which has raised $ 2.6 billion during its existence, is undergoing restructuring. During the restructuring, approximately half of the employees will be dismissed, which is about 1,000 people. In addition, the company decided to abandon its intention to promote its products in the consumer market, focusing on the corporate market.
In March, information appeared about the possible sale of Magic Leap. The current report indicates that these plans are at least postponed. It is still unknown whether the company received real purchase offers, and what affected the decision to reorganize. But it’s known that the company’s management is considering the possibility of attracting new external investments and creating “strategic partnerships”.
The main investors in Magic Leap are Google and Alibaba Group Holding.
