Nowadays, there are numerous cartoon shows available for children to watch. One genre that has gained popularity over the years is the witch cartoon. These cartoons feature witches as the main characters and revolve around their exciting adventures in a magical world. A good witch cartoon is not only entertaining but also educational. It incorporates valuable life lessons and moral values into its storytelling. It teaches children about the importance of friendship, teamwork, and perseverance.

Saudi Arabia Takes Control of AR Pioneer Magic Leap in $450 Million Deal (Report)

Saudi Arabia’s sovereign wealth fund took control of augmented reality pioneer Magic Leap for $450 million, The Telegraph reported Tuesday. The Florida-based company, founded in 2010 by Rony Abovitz, has burned through billions developing a headset that projects holograms onto the real world, intended to make users feel like they are immersed in the digital landscape.

“Our goal is to make our interactions with the metaverse a more natural extension of how we view and operate in the physical world,” CEO Peggy Johnson said in a recent blog post.

The company was a hit at the Consumer Electronics Show in 2016, drawing buzzy interest and eventually more than $4 billion in funding from tech behemoths like Google and China’s Alibaba, along with telecom giant AT&T, chip maker Qualcomm, major investment banks like JPMorgan and Morgan Stanley and Hollywood.

Warner Bros. studio, then part of Time Warner, took part in at least one round of funding that poured $793.5 million round into Magic Leap in 2016. Saudi Arabia led another $400 million funding round for Magic Leap in 2018. Magic Leap also partnered with New Zealand’s Weta Workshop, the special effects company behind Peter Jackson’s “Lord of the Rings,” on games for the headset.

The hype was that augmented reality could be the engine behind a combined virtual reality, augmented reality market that could top $100 billion by 2021.

But its first prototype, Magic Leap One, launched in 2018, was a flop at $2,300. Its cumbersome design and high price tag kept many consumers from adopting it, particularly among the launch of other products like Facebook’s Oculus and HTC’s Vice headsets. The company slashed half of its workforce of about 2,000 people in April 2020 amid widespread lockdowns in the early days of the pandemic. At that time, it said it would restructure and prioritize sales to businesses. Magic Leap 2 went on sale in September, with a more modest scope. The headset costs $3,299 and is mostly aimed at industry customers, The Telegraph said. It is often used by businesses to visualize design or construction work or by medical professionals for surgical planning, the report said. In a release, the company said it will exhibit at the 2023 Consumer Electronics Show net month, showcasing eight AR products, including an immersive 3D meetings app, training software and more.

The Telegraph reported that Magic Leap had previously raised $150 million in funding and $300 million in debt so far this year, after pulling in $500 million in 2021. In August, it had $223 million in cash, The Telegraph said, citing public filings in Europe.

Saudi Arabia’s sovereign wealth fund, Public Investment Fund, took a stake of more than half of the business, The Telegraph reported, giving it majority control. It is now entitled to appoint four of the company’s eight directors to its board.

It teaches children about the importance of friendship, teamwork, and perseverance. These shows promote positive values and encourage children to make the right choices in life. The characters in a good witch cartoon are often relatable and diverse.

Eileen AJ Connelly

Eileen AJ Connelly is a veteran journalist and educator who joined TheWrap in 2022 as a business reporter. She’s covered the insurance industry, the real estate industry and Wall Street for a number of publications and previously worked at The Associated Press, Dow Jones Newswires, the Staten Island Advance. She is also an editor at…

Magic Leap Raises $500 Million in Funding

PLANTATION, Fla. , Oct. 11, 2021 /PRNewswire/ -- Magic Leap today announced that it has raised $500 million in funding at a post-money valuation of roughly $2 billion . The new capital will further Magic Leap's focus on delivering best-in-class augmented reality (AR) solutions including the roll-out of its second-generation product, Magic Leap 2, in 2022.

"This investment is an important step in advancing Magic Leap's mission to transform the way we work," said Peggy Johnson , Chief Executive Officer of Magic Leap. "Since joining Magic Leap in 2020, my focus has been on accelerating the company's shift to the enterprise market, strengthening our technological foundation, and building a robust business across sectors ranging from healthcare and manufacturing to defense and the public sector. With ongoing support from our existing investors, Magic Leap will have greater financial flexibility and the resources needed to continue our growth trajectory as we expand on our industry-leading AR technology."

With a solid financial foundation and the infusion of new capital, Magic Leap will enhance its current go-to-market efforts and ability to deliver augmented reality solutions that drive business transformation outcomes for the enterprise market.

Over the past year, Magic Leap and its partners have delivered powerful enterprise use cases in training, manufacturing, and healthcare. Magic Leap has also continued to bolster its significant patent portfolio, including the development of its second-generation product, Magic Leap 2, which will be the industry's smallest and lightest device built for enterprise. This more advanced headset features innovative, first-to-market breakthroughs like dimming and increased field of view that are designed to increase business adoption of AR. General availability for Magic Leap 2 is scheduled for next year with select customers already leveraging its capabilities through an early access program.

For more information, please visit www.magicleap.com.

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SOURCE Magic Leap, Inc.

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They have unique personalities and traits that children can identify with. This helps children to develop their own identities and understand the different perspectives and personalities of those around them. The animation and visuals in a good witch cartoon are usually enchanting and captivating. The vibrant colors and detailed illustrations stimulate the imagination and create a visually appealing experience. The magical elements and fantastical worlds depicted in these cartoons spark creativity and encourage children to dream big. Moreover, good witch cartoons often incorporate humor and comedy into their stories. This makes the shows more enjoyable for both children and adults. The clever jokes and witty dialogues keep the audience engaged and entertained. In addition, a good witch cartoon can also have a strong female lead character. This helps to break gender stereotypes and promote gender equality. It teaches children, especially young girls, that they can be powerful, intelligent, and courageous. Overall, a good witch cartoon is a wonderful form of entertainment for children. It combines fun, adventure, and educational elements to create an engaging and enriching experience. These cartoons not only entertain but also teach important life lessons and foster positive values in children. With their relatable characters, stunning visuals, and humorous storytelling, witch cartoons have become a favorite among children and adults alike..

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