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Magic Leap Lays Off Sales & Marketing Amid Report of “last ditch” Pivot to License AR Optics

Storied AR headset unicorn Magic Leap has laid off its entire sales and marketing departments, making for around 75 jobs cut from its rolls. Initially the focus of a Bloomberg report, Magic Leap has now confirmed the layoff round, stating the move was to adjust its strategy moving forward: “Magic Leap has been evolving our go-to-market approach […]

The post Magic Leap Lays Off Sales & Marketing Amid Report of “last ditch” Pivot to License AR Optics appeared first on Road to VR.

Road to VR & Scott Hayden

22. Juli 2024
Saudi Arabia Gains Majority Stake in Magic Leap in $450M Deal
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. Citing delayed accounts obtained from its European division, the company is said to have raised $150 million in preferred convertible stock and $300 million in debt […]

Road to VR & Scott Hayden

3. Januar 2023