AT&T partners with Magic Leap on distribution deal
July 12, 2018
AT&T has teamed with Magic Leap in a deal that will grant it exclusive US wireless distribution rights for the AR startup's headsets, which are set to begin shipping later this year. The telecom giant is also investing in Magic Leap, completing its Series D, which totaled $963 million as of March. At that time, the Plantation, FL-based company was valued at $6.4 billion.
Magic Leap's highly anticipated debut product, which is described as "a lightweight, wearable computer that will enrich real-world experience with digital content," has been a long time coming, as the startup was founded in 2011 and has raised more than $2 billion total in equity funding. AT&T, for its part, has been on a deal streak as of late. Just last month, it completed its $84.5 billion acquisition of Time Warner, followed by an agreement to acquire advertising platform AppNexus.
Take a closer look at Magic Leap's funding and valuation history.