Magic Leap, which has developed augmented reality systems but cannot launch its products, announced that it has found a new fund despite the rumors that it will go bankrupt.
CEO withdraws from his post
Rony Abovitz, the founder and CEO of the company, underlined that he will not manage the CEO position in the company in the new period. This reveals that the new investor who has funded the company that is about to sink has also taken over the management of the company.
While the company was about to fire 1,000 people recently, when the $350 million funds were found, layoffs were stopped. Let’s see if the new CEO will be able to break the structure of Magic Leap that has been consuming billions of dollars for years and create a company that makes money.