On Tuesday, the stealthy Fort Lauderdale, Florida-based company announced it had landed a whopping $542 million round of funding, led by Google, which it will use to build out a new and mysterious technology that lets users see virtual 3-D objects in the real world. Magic Leap founder and CEO Rony Abovitz insists what he's building isn't mobile computing, Oculus-style virtual reality, or even augmented reality. "We are transcending all three, and will revolutionize the way people communicate, purchase, learn, share and play," he said in a statement.
As for what it is, however, the company has offered little more than this gif of a mini elephant floating above a pair of hands. Confused yet? Join the club.
The most important question—the question that will ultimately decide Magic Leap's fate—is this: What does Google want with it?