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Monday, October 13, 2014

Google set to lead $500 million investment in Magic Leap -tech website, (NASDAQ: GOOG)

Google Inc and other investors are planning to invest about $500 million in hardware and software developer Magic Leap Inc to deliver "cinematic reality", technology website Re/Code said, citing sources. Google is leading the funding round for the company, the website cited sources as saying. ( capital firm Andreessen Horowitz may be one of the other investors in the consortium, Re/Code said.Google, Andreessen Horowitz and Magic Leap could not be reached for a comment outside of business hours.Magic Leap said in February it had raised more than $50 million to develop its proprietary technology platform.

Google Inc. (Google), is a global technology company. Shares of GOOG fell by 2.07% or $-11.28/share to $533.21. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 1573680 shares of GOOG exchange hands on a given day and today's volume is recorded at 2578676.