Magic Leap Founder Rony Abovitz Resigns as CEO of Struggling AR Company

and, as a result, Magic Leap is not laying off as many employees as previously expected.“As the board and I planned the changes we made and what Magic Leap needs for this next focused phase, it became clear to us that a change in my role was a natural next step,” Abovitz wrote in a

Magic Leap’s investors include the Kingdom of Saudi Arabia, AT&T, Alphabet, NTT DoCoMo, Alibaba Group, Warner Bros., Legendary Entertainment, Vulcan Capital, Kleiner Perkins, and Andreessen Horowitz. Magic Leap previously inked deals with AT&T and DoCoMo to be the exclusive wireless distributors of its products in the U.S. and Japan, respectively.

Prior to starting Plantation, Fla.-based Magic Leap in 2001, Abovitz was co-founder and head of development and technology for MAKO Surgical, a developer of human-interactive robotics for orthopedic surgery that was acquired by Stryker for $1.65 billion in 2013.

The end is nigh

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Rony Abovitz announces he is stepping down as Magic Leap's CEO - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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Rony Abovitz announces he is stepping down as Magic Leap's CEO - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »