Road to VR

JANUARY 3, 2023

Saudi Arabia has taken majority share of the US-based augmented reality company Magic Leap, The Telegraph reports, widening the stake via its state-owned sovereign wealth fund with a deal amounting to $450 million. Photo by Road to VR.

Saudi Arabia 356

Saudi Arabia Magic Leap Florida America 356

Road to VR

MAY 22, 2023

A report from the Financial Times maintains Meta is currently in talks with AR headset creator Magic Leap to strike a multiyear deal, which could include intellectual property licensing and contract manufacturing of AR headsets in North America. Its majority stakeholder is Saudi Arabia’s state-owned sovereign wealth fund.

Magic Leap 363

Magic Leap Saudi Arabia AR North America 363

Road to VR

JULY 22, 2024

Storied AR headset unicorn Magic Leap has laid off its entire sales and marketing departments, making for around 75 jobs cut from its rolls. We will continue to actively support Magic Leap’s customers, developers and our large ecosystem through the Developer Support and Care teams.” The company has amassed nearly $4.5

Magic Leap 327

Magic Leap Saudi Arabia AR Florida 327

Road to VR

JULY 7, 2020

Peggy Johnson, Microsoft’s Executive VP of Business Development, is slated to take the reins as the new CEO of Magic Leap, effective August 1st. Magic Leap recently pivoted to the enterprise space after seeing lackluster success with its $2,300 AR headset, Magic Leap 1 (previously known as Magic Leap One Developer Edition).

Magic Leap 340

Magic Leap Saudi Arabia Microsoft Google 340

Road to VR

MAY 29, 2020

Magic Leap pivoted to the enterprise space recently after an extended lukewarm reception by consumers for its $2,300 AR headset. Abovitz released a statement on the Magic Leap blog explaining the move, saying that a change in his role was “a natural next step” to bringing about the next phase of the company.

Magic Leap 292

Magic Leap Saudi Arabia Strategy Course 292

Upload VR

MAY 30, 2024

Magic Leap has entered a "multi-faceted, strategic technology partnership" with Google. The companies say the partnership will combine Magic Leap's "leadership in optics and manufacturing" with Google's "technology platforms". Why Magic Leap?

Magic Leap 145

Magic Leap Google Saudi Arabia AR 145

Upload VR

JULY 19, 2024

Magic Leap is undergoing layoffs just a few months after announcing a partnership with Google. We will continue to actively support Magic Leap’s customers, developers and our large ecosystem through the Developer Support and Care teams. What are its prospects for 2025?

Magic Leap 120

Magic Leap Google Saudi Arabia Apple 120