Magic Leap startup, which has raised more than $2 billion, may sell

The developer of Magic Leap AR headsets is looking for new owners. The startup has attracted investments of $2.6 billion in its lifetime. Now they want to sell it for $10 billion.

According to Bloomberg, citing anonymous sources, the creators of Magic Leap decide what to do with the business. Earlier it was reported that the startup does not meet their expectations:

• at first, Magic Leap management planned to sell 1 million AR-glasses in the first year;
• then the projected figure was lowered to 100 thousand pieces;
• as a result, only 6 thousand customers agreed to buy glasses in six months.

Also, as the publication clarifies, the company had a conflict with a number of former employees last year. As a result, Magic Leap‘s CFO Scott Henry quit.

Now the founders of Magic Leap are considering the option of selling the company. In addition, there are two other ways: companies can find a valuable investor; its share can be sold and listed on the stock exchange.

Previously, the management believed that Facebook and other tech giants could show interest in Magic Leap. The social network has shown that it is not interested in acquiring due to rising tariffs and production problems caused by the coronavirus. It is unknown whether negotiations are underway with other possible buyers.

Magic Leap has attracted over $2 billion in investments since its inception. Among the largest investors are Google, Alibaba, several investment companies from Saudi Arabia and Singapore. The founders, according to the source, want to get $10 billion for the startup. However, with his real assessment, everything is not so simple.

According to Bloomberg, the business is worth $6-8 billion. The price may decrease, because insufficient demand for headsets and problems with mass implementation will prevent its buyers from quickly starting to earn.

Note: previously, the Magic Leap management stated that after the release of the Magic Leap 2 headset in 2021, the startup will begin to grow rapidly. And it will allegedly rise in price to $100 billion within a few years.

Magic Leap was founded in 2011. Two years ago, she released the Magic Leap One corporate AR glasses with image projection on the retina of the eye. The project was created in strict secrecy, the working prototype was not shown to anyone. The device cost a little less than $ 2,300.

Also on the topic:

• Sales of Magic Leap One AR glasses have startedThe creators of Magic Leap One have launched grants for AR developers
• Is there any news?

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