#MagicLeap Could Be Looking at an $8 Billion Valuation
  • Magic Leap Could Be Looking at an $8 Billion ValuationDespite its critics, the secretive startup is raising more cash in its quest to be the Apple of augmented reality.Magic Leap CEO and cofounder Rony Abovitz.
  • Follow Backchannel: Facebook | TwitterJust 15 months ago, the Florida-based mixed reality company raised $793.5 million, adding to the $592 million it had previously raised and earning a valuation at $4.5 billion.
  • Skeptics aren’t sure Magic Leap can pull off what it has promised, and a December report in The Information suggested that the company’s first product won’t ship with the technology that it shows in its demos.
  • Or it may fail only in its ambition to be the Apple of augmented reality — and instead become yet another technology company powering devices and services that help Alibaba to better compete with Microsoft and Facebook.
  • And Alibaba is about to buy Magic Leap even more time to figure its future out.This week on Backchannel:Mark Harris on self-driving trucks at Uber: “Even as Kalanick boasts about his company’s latest venture into trucking, a parallel, conflicting story is now emerging around the company’s ambitions for autonomous freight.”

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