Ronnie Abovitz is resigning as CEO of Magic Leap, nine years after the founding of the augmented-reality company – which has raised nearly ৩ 3 billion but has had little commercial success.
Magic Leap decided to focus on more applications for its business, and its exit comes after sidelining plans for consumer-based hardware. Last month, Abvitz said the company would lay off “several employees” – one thousand or half. As Bloomberg reported in March, owners of Magic Leap are also reportedly looking at strategic options, including potential sales.
Since then, Mavic has closed “significant new funding” for the May 28 post by Leap Abovits. This round came in at 350 million and, as a result, Magic Leap is not giving employees the discount they previously expected.
Investors in Magic Leap have now decided that Helme needs a new company.
“The changes that the board and I have made and what we plan to do for this next Focus episode of Magic Leap have made it clear to us that the change in my role was a natural next step,” Abbott said in a blog post on Thursday. Wrote. “I discussed this with the board and we agreed that now is the time to bring in a new CEO who can help commercialize our focused plan for local space in our enterprise.”
Investors in Magic Leap include Kingdom of Saudi Arabia, AT&T, Alphabet, NTT DoCoMo, Alibaba Group, Warner Bros., Legend Entertainment, Vulcan Capital, Kleiner Perkins and Anderson Horowitz. Magic Leap had previously entered into agreements with AT&T and DoCoMo as the exclusive wireless distributors of its products in the United States and Japan, respectively.
According to Abbots, Magic Leap has actively recruited candidates for the CEO role. He said he is in discussions with the board about how I will continue to provide strategy and vision from the board level.
Prior to launching Plantation, Fla-based Magic Leap in 2001, Abvitz was co-founder and head of development and technology at Maco Surgical, Striker was the developer of human-interactive robotics in orthopedic surgery in 2013 for 1.6565 billion.
In his resignation post, Abovitz said he was “extremely excited” about the possibility of a magic leap and was proud that “we have defined the future of computing.”
In 2018, Magic Lip launched Magic Lip One, a wearable device designed for developers – with prices starting at 2,295. The “Mixed Reality” system allows users to view and interact with virtual objects and content in their real-world view. The Magic Leap One has a headset (lightware), a processor unit (lightpack) and a controller, all powered by Lumin OS, which the company calls the world’s first “special operating system”.
Written partners in Magic Leap include Peter Jackson’s Waita Workshop, HBO, CNN, Epic Games, LucasFilm’s ILMXLBL, The New York Times, Unity and Studios Wingnut AR and Phenomina.