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Magic Leap raises $350 million, withdraws layoff notices

  • The Information
  • 1 week ago
  • Magic Leap CEO Rony Abovitz told employees Thursday his struggling augmented reality firm had raised $350 million from existing and new investors.
  • Last valued at over $6.4 billion, Magic Leap has raised over $2.5 billion from investors including Google, Saudi Arabia’s Public Investment Fund, Temasek, AT&T and Fidelity.
  • The startup was never able to achieve Abovitz’s vision of making its augmented reality technology a mainstream product.
  • Abovitz has proven to be an indefatigable fundraiser.
Magic Leap raises $350 million, withdraws layoff notices

Canada's newest unicorn: Edtech startup ApplyBoard raises $75M at $1.4b valuation

  • Crunchbase News
  • 3 weeks ago
  • ApplyBoard, a SaaS-enabled recruitment platform aimed at helping international students gain greater access to higher education, has raised $75 million in funding at a $1.4 billion valuation.
  • The round propels ApplyBoard into unicorn status, according to CEO and co-founder Martin Basiri.
  • Columbus, Ohio-based Drive Capital led the round along with Fidelity Investments Canada ULC and Business Development Bank of Canada, and was joined by existing backers such as Anthos Capital, Artiman Ventures, Garage Capital and Plug and Play Tech Center.
  • ApplyBoard helps people to find and apply to educational opportunities. Students located anywhere in the world can answer just a few questions about their skills, grades, language scores and interests. Using machine learning, the ApplyBoard platform will match them with programs and schools at which they are eligible to study.
Canada's newest unicorn: Edtech startup ApplyBoard raises $75M at $1.4b valuation

Uber in talks to lead $170 million Lime investment at lower valuation

  • The Information
  • 3 weeks ago
  • Uber is in talks to lead a $170 million financing in scooter rental firm Lime, whose business has dropped sharply amid the coronavirus pandemic.
  • The potential deal would value Lime on paper at $510 million, after the proposed cash infusion, a 79% drop from its previous valuation.
  • As part of the proposed deal, Uber would transfer to Lime the bike and scooter business that the ride-hailing company purchased in 2018, called Jump.
  • Uber would get the option to buy Lime between 2022 and 2024 at a specific price, and in the meantime Uber would feature Lime scooters more prominently in the Uber app.
Uber in talks to lead $170 million Lime investment at lower valuation

Vinay Farias

Avatar for Vinay Farias
Cornell University - Electrical & Computer Engineering Fidelity Investments - Electronic Trading Product Development