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. The investment puts the country’s ownership of Magic Leap over 50 percent, giving it overall majority control.
Road to VR
JULY 22, 2024
billion in funds to date, which included early investments from Google, Qualcomm, Alibaba, and AT&T. In late 2022, Saudi Arabia’s Public Investment Fund became majority stakeholder after injecting $450 million into the company. The company has amassed nearly $4.5
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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". Google was an initial investor in Magic Leap, leading a $542 million funding round back in 2014.
Road to VR
MAY 22, 2023
The company has raised over $4 billion, with minority investors including Google, Alibaba, Qualcomm, AT&T, and Axel Springer. Its majority stakeholder is Saudi Arabia’s state-owned sovereign wealth fund.
Upload VR
JULY 19, 2024
Magic Leap is undergoing layoffs just a few months after announcing a partnership with Google. Magic Leap And Google Announce AR Partnership Magic Leap and Google have entered a “multi-faceted, strategic technology partnership” for AR devices. Online postings from recently departed employees raised public notice of the move.
Road to VR
JULY 7, 2020
A recent $350 million funding round has ensured the company more runway as it no doubt strives to justify its already massive $3 billion funding, which has arrived from sources including Google, Alibaba, Qualcomm, AT&T, Saudi Arabia’s Public Investment Fund, and Axel Springer. Image courtesy Microsoft.
Road to VR
MAY 31, 2018
The app will support Gear VR, Oculus Go, PlayStation VR, and Google Cardboard; as with all BBC iPlayer content, it’s likely to be region locked to the UK though. The VR app is said hit the respective app stores closer to the first match, which starts on June 14th with the Russia vs. Saudi Arabia match to kick it off.
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