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AR startup Magi Leap’s CEO Rony Abovitz Steps Down

By ET Bureau - May 29, 2020 1 Mins Read

AR, Magic Leap, Rony Abovitz, CEO, Magic Leap 1 headset,

Magic Leap CEO and co-founder, Rony Abovitz have stepped down from his position. Abovitz will stay in the company as CEO for the time being until they announce a replacement. The latest news comes a month after the augmented reality startup laid off around 1,000 employees.

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The company famous for its Magic Leap 1 headset has raised about $3 billion dollars over the last decade. Earlier this month, Magic Leap raised $350 million in funding.


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