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Report: AR headset maker Magic Leap exploring a sale at $10 billion valuation

Report: AR headset maker Magic Leap exploring a sale at $10 billion valuation

March 12, 2020 | By Chris Kerr

March 12, 2020 | By Chris Kerr
More: VR, Business/Marketing

Augmented reality company Magic Leap is exploring the possibility of a sale, according to a report from Bloomberg

People familiar with the matter claim the company, which has raised over $2 billion to create an augmented-reality headset, is seeking a buyer, but would also consider forming a partnership or selling a "significant stake" ahead of a potential listing.

The news comes months after Magic Leap reportedly laid off dozens of staff across multiple departments after its debut AR headset, the Magic Leap One, struggled to pull in sales. 

Anonymous sources claim Magic Leap has had tentative interest from tech and medical giants like Facebook and Johnson & Johnson. A initial meeting between Facebook and Magic Leap has apparently already taken place, although talk of a deal never actually materialized. 

It's believed a potential sale would value Magic Leap at over $10 billion, and it's a price tag that could dissuade any suitors that don't have the financial clout to carry the company until AR becomes a more consumer-friendly prospect. 

"One thing to keep in mind with AR hardware is we do anticipate mainstream adoption being a few years away," commented Bloomberg's senior analyst, Jitendra Waral, "so whoever buys them needs to have the financial capacity to carry the products through as AR is still evolving,"

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