Magic Leap aimed to sell at least 100,000 headsets in first year... After the first six months on the market, it instead sold around 6,000 units.

The Magic Leap One, which retails for $2,300—underwhelmed many reviewers when it came out last year, with Oculus VR co-founder Palmer Luckey calling the device a "tragic heap."

While it has raised a large amount of funding in the past, Magic Leap is an expensive operation. Throughout 2018, the company burned around $40 million to $50 million per month, according to two people with knowledge of its finances. It currently has roughly 1,700 employees in offices scattered around the world.

Magic Leap was founded in 2010 by Rony Abovitz, an eccentric, 47-year-old Florida native who once gave a TED talk in a spacesuit surrounded by people dancing to music in furry monster costumes