Magic Leap Is The Biggest Unicorn In The Tech Industry

Magic Leap Is The Biggest Unicorn In The Tech Industry

magic-leap

Today we are going to talk about a Florida based start up named “Magic Leap”. As the name suggests, The company is onto something truly magical, The aim is to bring augmented reality onto a larger scale with some amazing tricks.

Now, why do I say that it is the biggest unicorn in the tech industry? Well that’s simply because the company is currently valued at a whopping $4.5 Billion and has no product in the market whatsoever! That’s right, They have only shown two demos as of now to a very select audience, and still managed to raise $793 Million in one of the biggest Series C funding in the tech industry led by Alibaba.

Now, It’s a no brainer that the investors are not just throwing their money at them for no reason, The company has great products that it wants to showcase to the world. Also, According to Digi-Capital, augmented reality devices are expected to deliver $120 billion in revenues by the year 2020. On the other hand, virtual reality headsets are expected to generate only $30 billion in revenues by 2020.

Magic Leap was founded in 2011 by Brian Schowengerdt and Rony Abovitz. The company has been focused on developing special eyeglasses that would provide an enhanced augmented reality experience to its users. Magic Leap believes in its ability to create a world where “digital and physical realities seamlessly blend together to enable amazing new experiences”. According to Magic Leap, its technology will be able to offer a new kind of computing capability that will mix digital graphics into the physical world by projecting images onto the eyes so that users can see virtual 3D objects as part of the real world. The company wants to layer the real world with the virtual one and create one amazing world where anything is possible.

The company gained public attention due to the release of one of it’s video as to what it can deliver, Which showed a blue whale diving onto a real basketball court and created an illusion so real that people were actually scared of getting wet due to the water that the whale splashed.

The link to the video is here :- Magic Leap’s Amazing Blue Whale

Magic Leap’s future is very bright if it can deliver what it claims on time, The company has been developing this product for 2 years now and has a lot of support from it’s various investors including Alphabet, J P Morgan, Alibaba etc.

The hype is surely there as consumers are now buying VR headsets , Hololens etc. The company is a unicorn for now, With no surety of it’s success, but all we can do is wait and watch


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