en.wikipedia.org/wiki/Magic_Leap
2 corrections found
AT&T Communications' CEO John Donovan is set to become a board member of the company.
The July 11, 2018 announcement did not make John Donovan a board member. It said he would have observer rights on Magic Leap’s board.
Full reasoning
Magic Leap and AT&T’s July 11, 2018 announcement does not say John Donovan would join Magic Leap’s board as a director. Instead, the release states that AT&T Communications CEO John Donovan “has observer rights with Magic Leap's board.” Board-observer status is different from board membership: observers may attend or monitor board activity, but they are not board directors.
Because the source announcement explicitly describes Donovan as having observer rights, the article’s statement that he was “set to become a board member” overstates his role and is incorrect.
1 source
- AT&T and Magic Leap Form Exclusive U.S. Consumer Relationship to Expand the Future of Spatial Computing
"AT&T is excited ...," said AT&T Communications CEO John Donovan, "who has observer rights with Magic Leap's board."
has raised $2.6 billion
This funding total is too low. By January 2024, multiple reports said Magic Leap had raised about $4.5 billion in total.
Full reasoning
The article’s funding total is not consistent with Magic Leap’s later funding history.
In January 2024, after Saudi Arabia’s Public Investment Fund provided another $590 million, multiple reports stated that Magic Leap’s cumulative funding had reached about $4.5 billion. GamesBeat wrote, “To date, Florida-based Magic Leap has raised $4.5 billion.” Refresh Miami likewise reported, “In total, the company has raised about $4.5 billion over the years.”
Because reliable contemporaneous reporting in January 2024 already put the total at roughly $4.5 billion, the statement that Magic Leap “has raised $2.6 billion” is incorrect by a very large margin.
2 sources
- With $590M in more funding, Magic Leap looks to the future | interview - GamesBeat
Magic Leap announced ... another $590 million in debt funding ... To date, Florida-based Magic Leap has raised $4.5 billion.
- Magic Leap secures $590M from Saudi wealth fund - Refresh Miami
This week, Magic Leap secured $590 million from Saudi Arabia's sovereign wealth fund ... In total, the company has raised about $4.5 billion over the years.