2 days after raising $502 million, Magic Leap called the cops to say an employee had stolen $1 million
Asa Mathat for Vox Media
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.
Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley