VR Venture Powers Up with Mega-Investments
Enter a Magic Leap Dragon & Stories to Fascinate… (but how real is Magic Leap?)
Wired / The world’s hottest startup isn’t located in Silicon Valley—it’s in suburban Florida.
Magic Leap’s mind-bending technology conjures up the future of virtual reality and attracts venture capital looking to compete in global entertainment. But the word on the street is Magic Leap’s not all that is seems to be. Time will tell. We’ll re-visit the Magic team in the near future and take a closer look at the technology they’re touting…
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Alibaba, Warner Bros., Fidelity Management and Research Company, J.P. Morgan Investment Management, Morgan Stanley Investment Management, funds and accounts advised by T. Rowe Price Associates, Inc., Wellington Management Company, and others join Magic Leap’s existing investors: Google Inc., Qualcomm Ventures, Legendary Entertainment, KKR, Vulcan Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Obvious Ventures, and others.
Chinese Internet giant Alibaba Group Holding Ltd. led the funding round, which Magic Leap says values the Dania Beach, Fla., company at $4.5 billion.