Former Vevo CEO Rio Caraeff Joins Magic Leap
Mysterious Florida startup, Magic Leap, has just hired former Vevo CEO Rio Caraeff as the company’s Chief Content Officer. At the end of 2014, Rio Caraeff left his role as president and CEO at Vevo.
Rio Caraeff will assume his new role as CCO to watch over all internal and external business opportunities relating to content compatible with Magic Leap. Magic Leap said that Rio Caraeff will be tasked with the “development, operations and business management of Magic Leap’s cloud-based ecosystem and media network.”
Before founding Vevo, Mr. Caraeff built his content-creation expertise by worked at companies such as Sony Pictures Entertainment and Universal Music Group.
According to Rio Caraeff:
“My head exploded when I first experienced what the Magic Leap team was working on. It is certainly the most exciting development in media and technology that I’ve ever seen, which is why I had to do whatever it takes to join the talented team that (Magic Leap CEO Rony Abovitz) has assembled. Building out the network of services, applications and content experiences to bring some magic into the world is the mission and I could not be more thrilled to join.”
Rumor speculate that Magic Leap headset differs than Microsoft HoloLens in a way that it is not transparent, rather a camera capture videos of user’s surrounding environment.
Industry analyst predicts that augmented and virtual reality market will exceed 150 billion by 2020, and Magic Leap has already raised one of the largest VC round of 542 million from investors such as Google, Qualcomm, Legendary Pictures, Andreessen Horowitz, Obvious Ventures, and KPCB.