Google Magic Leap Saudi Arabia 
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.
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
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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.
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?
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?
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).
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.
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