14 Sep '17, 2am

Singapore's Temasek Mulls Investing in Magic Leap

Magic Leap Inc. , a Florida-based startup that’s raised more than $1.3 billion to build a wearable computing device, is trying to raise even more cash as it readies a long-awaited debut product. Temasek Holdings Pte. , an investment company owned by Singapore, is considering taking part in a new financing round of more than $500 million, valuing Magic Leap close to $6 billion, according to people familiar with the situation. Magic Leap has already attracted high-profile investments from companies including Alibaba Group Holding Ltd., Qualcomm Inc. and Alphabet Inc.’s Google, which invested directly in the firm and put Chief Executive Officer Sundar Pichai on the board. Magic Leap’s last financing round, led by Alibaba, valued the company at $4.5 billion . The latest round has not closed. Magic Leap hopes to ship its first device to a small group of users within six months,...

Full article: https://www.bloomberg.com/news/articles/2017-09-14/singap...

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