Tech: 2 days after raising $502 million, Magic Leap called the cops to say an employee had stolen $1 million (GOOG, MSFT) - CAMPUS94

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Friday, 2 March 2018

Tech: 2 days after raising $502 million, Magic Leap called the cops to say an employee had stolen $1 million (GOOG, MSFT)

Magic Leap CEO Rony Abovitz

The $6 billion startup is racing to bring its augmented reality glasses to market, but a series of strange incidents within Magic Leap raise worrisome flags.

Magic Leap, the secretive Florida startup developing futuristic augmented reality glasses, raised a whopping $502 million in October.

Two days later, it called the cops and told them an employee had stolen over $1 million over a period of 23 months.

The story of the alleged theft, which has never been reported until now and apparently involved an HR manager and a recruiting company, is one of several strange problems that have bedeviled the young company, whose innovative technology is a subject of both fascination and skepticism among industry insiders.

In this exclusive BI Prime report, Business Insider's Kif Leswing and Steven Tweedie uncover the latest sign of turmoil inside the $6 billion startup whose backers include Google and Alibaba.

Click here to read Business Insider Prime's report about how an employee allegedly stole $1 million from Magic Leap.

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