Magic Leap has raised a reality-defying $2.6B since the company launched in 2010.
And, after more than 8 years, the company finally shipped its first products to consumers. But it has still failed to deliver big revenues.
Magic Leap’s recent numbers were disappointing
According to a report from The Information, the company sold just 6k headsets in its first 6 months — after initially planning to sell at least 1m in its first year and then lowering its forecasts to the more levelheaded goal of selling at least 100k in the first year (the company later disputed The Information’s numbers, but failed to provide an update).
In any case, the company’s recent sales have been sluggish — especially considering its deep pockets and numerous partnerships with companies ranging from AT&T (for 5G-based business applications) to JetBlue (for virtually previewing hotel rooms).
And the company’s problems run deeper than sluggish sales…
Recently, former Magic Leap adviser (and recently promoted chief of both Google and now Alphabet) Sundar Pichai left the company’s board due to his busy schedule.
And on top of that, the company’s next version of its headset is reportedly years away from launch.