| Founded | 2011 |
|---|---|
| Country | USA |
| Sector | Hardware |
| Total raised | ~$2.6B USD |
| Collapse type | Mass Layoff Spiral |
| Founder | Rony Abovitz |
Magic Leap
"$2.6B raised on AR demos the product could not match. Launched, failed, pivoted. 50% layoff in 2020."
Cascading layoffs that accelerated the decline
Key Events Timeline
Magic Leap was founded in 2011 by Rony Abovitz in Plantation, Florida with a vision for spatial computing — "mixed reality" that blends digital objects convincingly into the physical world.
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