2010–2014
Magic Leap was founded by Rony Abovitz in 2010.[11] The startup evolved from a company named "Magic Leap Studios" which around 2010 was working on a graphic novel and a feature film series, and in 2011 became a corporation, releasing an augmented reality app at Comic-Con that year. In October 2014, when the company was still operating in stealth mode (but already reported to be working on projects relating to augmented reality and computer vision), it raised more than $540 million of venture funding from Google,[12] Qualcomm, Andreessen Horowitz and Kleiner Perkins, among other investors.[13][14]
A November 2014 analysis by Gizmodo, based on job listings, trademark registrations and patent applications from Magic Leap, concluded that the company appeared to be building a competitor to the Google Glass and Oculus Rift that would "blend computer-generated graphics with the real world". It had also been compared to Microsoft HoloLens.[15]
Before Magic Leap, a head-mounted display using light field had been demonstrated by Nvidia in 2013, and the MIT Media Lab has also constructed a 3D display using "compressed light fields"; however, Magic Leap asserts that it achieves better resolution with a new proprietary technique that projects an image directly onto the user's retina.[11] According to a researcher who studied the company's patents, Magic Leap is likely to use stacked silicon waveguides.[6]
Richard Taylor of special effects company Weta Workshop was briefly involved in Magic Leap alongside Abovitz.[16] Science fiction author Neal Stephenson joined the company in December 2014.[15] Graeme Devine is their Chief Creative Officer & Senior VP Games, Apps and Creative Experiences.[17]
2015–2018
On October 20, 2015, Magic Leap released actual footage of their product. While still not showing any hardware, the footage claims that it was filmed through a Magic Leap device without the use of special effects or compositing.[18]
On December 9, 2015, Forbes reported on documents filed in the state of Delaware, indicating a Series C funding round of $827m. This funding round could bring the company's total funding to $1.4 billion, and its post-money valuation to $3.7 billion.[19] On February 2, 2016, it was reported that Magic Leap further raised another funding round of close to $800m, valuing it at $4.5 billion.[20]
On June 16, 2016, Magic Leap announced a partnership with Disney's Lucasfilm and its ILMxLAB R&D unit. The two companies would form a joint research lab at Lucasfilm's San Francisco campus.[21]
2018–present
On July 11, 2018, AT&T invested in the company, set to become its exclusive partner. Also AT&T Communications' CEO John Donovan is set to become a board member of the company.[29][30]
In April 2019, it was reported that Magic Leap had raised an additional $280 million from NTT Docomo as part of a partnership announced by the two companies.[31]
In November 2019, it was reported that Magic Leap assigned all of its US patents to J.P. Morgan Chase in August 2019. The company also announced a significant financing round, which would become its series E when complete.[32]
On April 22, 2020, Magic Leap indicated a major company restructuring and that half of the company's staff would be
