Magic Leap’s next trick is to make another $1 billion disappear

If we go by actual achievements, Florida company Magic Leap’s biggest is probably raising $1.6 billion from the likes of Google and Alibaba.

Now the company is set to repeat the feat, after filing documents in Delaware announcing the sale of 37 million shares of series D preferred stock at $27 per share, which, if all purchased, would raise another cool $ 1 billion.

It is not known who will be so foolish as to invest in the smoke and mirrors company, who has been ramping up promotion over recent weeks, but it is unlikely the money is to fund mass production, as a recent report by Bloomberg suggest Magic Leap’s next step will be to sell the first units of its device to “a small group of users” within six months – with a price as high as $2,000.

Magic Leap promises to use light field technology to create a next-generation mixed reality headset which solves all the difficult problems Microsoft is facing with bringing the HoloLens to the mass market.

To get a good idea about Magic Leap’s features and capabilities, see their most recent promotional video below.

Via GamesIndustry.biz

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