February 2, 2016 at 18:47$ 4.5 billion per idea: Alibaba raises Magic Leap's Augmented Reality startup appraisal despite lack of product
Startup Magic Leap is developing augmented reality technologies, and this has proven to be a very expensive undertaking.
In December, The Verge reported that the project raised $ 827 million. After that, the company's valuation reached $ 3.7 billion. The total amount of investments made in the company since its foundation at that time was $ 1.4 billion.
In October 2014, Magic Leap already raised $ 542 million from Google and other investors. As a result of this transaction, the current head of Google Sundar Pichai joined the board of directors of the company. Magic Leap investors, besides Google, are Qualcomm microchip maker and Legendary movie studio . In the same month, a Chinese holdingAlibaba Group expressed its intention to invest $ 200 million in the project.
Now TechCrunch, citing its own sources, reports that the startup in the new round has attracted additional investment.
The main investor was the Alibaba Group, and its founder Jack Ma will join the board of directors of Magic Leap. A TechCrunch source predicts that after the deal, the company's valuation will rise from $ 3.7 billion to $ 4.5 billion. The Chinese holding will invest $ 793.5 million in the startup.
Alibaba’s participation in the deal gives Magic Leap the opportunity to use its technology in many industries - for example, in creating video content. After all, the Chinese holding owns the film company Alibaba Pictures Group, which is engaged in the production and distribution of content.
Such a turn for Magic Leap holds great promise: the startup will become the most expensive in the industry, and its growing ambitions already cover projects such as Facebook Oculus and Microsoft HoloLens . Magic Leap combines in one device analogues of Google Glass technology (smart glasses) and Oculus Rift (virtual reality helmet).
The essence of Magic Leap is that a special technology has been created to build three-dimensional stereoscopic images using microprojectors located in front of the user's eyes. It is believed that this technology will not only raise the realism of stereoscopic images to a new level, but will also be actively used in other augmented and virtual reality devices.
True, there is one “but” in this beautiful story - the general public has never seen a Magic Leap device alive. Project evaluation is growing, but it remains a promising project. The company is not ready for the product; moreover, even the prototype of their “revolutionary” technology is not ready.
All that they showed was beautiful pictures and cryptic videos like this .
In December, The Verge reported that the project raised $ 827 million. After that, the company's valuation reached $ 3.7 billion. The total amount of investments made in the company since its foundation at that time was $ 1.4 billion.
In October 2014, Magic Leap already raised $ 542 million from Google and other investors. As a result of this transaction, the current head of Google Sundar Pichai joined the board of directors of the company. Magic Leap investors, besides Google, are Qualcomm microchip maker and Legendary movie studio . In the same month, a Chinese holdingAlibaba Group expressed its intention to invest $ 200 million in the project.
Now TechCrunch, citing its own sources, reports that the startup in the new round has attracted additional investment.
The main investor was the Alibaba Group, and its founder Jack Ma will join the board of directors of Magic Leap. A TechCrunch source predicts that after the deal, the company's valuation will rise from $ 3.7 billion to $ 4.5 billion. The Chinese holding will invest $ 793.5 million in the startup.
Alibaba’s participation in the deal gives Magic Leap the opportunity to use its technology in many industries - for example, in creating video content. After all, the Chinese holding owns the film company Alibaba Pictures Group, which is engaged in the production and distribution of content.
Such a turn for Magic Leap holds great promise: the startup will become the most expensive in the industry, and its growing ambitions already cover projects such as Facebook Oculus and Microsoft HoloLens . Magic Leap combines in one device analogues of Google Glass technology (smart glasses) and Oculus Rift (virtual reality helmet).
The essence of Magic Leap is that a special technology has been created to build three-dimensional stereoscopic images using microprojectors located in front of the user's eyes. It is believed that this technology will not only raise the realism of stereoscopic images to a new level, but will also be actively used in other augmented and virtual reality devices.
True, there is one “but” in this beautiful story - the general public has never seen a Magic Leap device alive. Project evaluation is growing, but it remains a promising project. The company is not ready for the product; moreover, even the prototype of their “revolutionary” technology is not ready.
All that they showed was beautiful pictures and cryptic videos like this .