Magic Leap snags $793 million augmented reality investment, led by Alibaba

Still cloaked in mystery, Magic Leap, the Florida-based augmented reality startup, has added a whopping $793.5 million in new funding, despite the fact that the public hasn’t even seen its product yet

Significantly, the new round of funding is led by Alibaba, the Chinese ecommerce giant founded by Jack Ma

"We invest in forward-thinking, innovative companies like Magic Leap that are developing leading products and technologies," Alibaba executive chairman Joe Tsai said in an emailed statement. "We believe Alibaba can both provide support to and learn from such a partner, and we look forward to working with the Magic Leap team." Read more...