Magic
Magic is developing an AI coworker that generates code from natural language, backed by over $145 million from top investors.
Secondary Market Price
Secondary Market Price
How Magic measures Up
To help you manage your Magic equity, Prospect has run the company through our machine learning model.
Prospect Rating
3x
Our rating for Magic is 3x, which means we project the company will be worth at least three times its current value in four years. For an employee with equity, this rating indicates a strong potential for your stock to appreciate significantly in value.
Exit Risk
Moderate Risk
Our moderate risk rating for Magic reflects its strong backing from top investors and recent fundraising, balanced against the challenges of operating in a nascent but highly competitive market.
Funding Stage
Series C
Since Magic is at the Series C stage, it's a more established company that has already proven its business model. This means you would be joining a more stable environment with clearer roles compared to a brand-new startup.
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Prospect Projected Future Magic Prices
Prospect’s machine learning model has been trained on the same data top-tier investors use to project the likely range of outcomes for Magic's equity. Create a free account to view 10th-90th percentile projections over 2, 4, and 6 years.
Powerful tools to earn more from your equity
Company Description
Magic is a San Francisco-based startup focused on automating software development through advanced artificial intelligence. The company’s platform is designed to act as a collaborative partner for developers, generating code from natural language requirements while understanding context, suggesting improvements, and identifying potential issues. To power this, Magic develops large-scale code models, optimizes GPU performance, and manages thousands of GPUs across its Kubernetes clusters. Founded in 2022 by Eric Steinberger and Sebastian De Ro, the company aims to build an AI that functions as a coworker rather than just a simple copilot tool.
The company’s long-term vision is for its AI to be a stepping stone toward artificial general intelligence. Central to this goal is its novel Long-term Memory Network architecture, which enables massive context windows of up to 5 million tokens, allowing the AI to comprehend entire codebases. The company is also exploring unreleased models with context windows as large as 100 million tokens. This ambition has attracted significant financial backing, with reports indicating the company has raised over $1 billion in total funding, achieving a valuation of $1.6 billion from investors including CapitalG, Sequoia Capital, Nat Friedman, and Elad Gil. To further its product development, Magic has also recently formed a dedicated 'Applied Team' to focus on post-training its models.
- Sequoia Capital
- Elad Gil
- CapitalG
- Amplify Partners
- Nat Friedman
- Atlassian
- Co-Founder, CEO Eric Steinberger
- Co-Founder, Sebastian De Ro
Peer Group Comparison
Vs Peer Group of >$4B Startups
Frequently Asked Questions
Joining Anduril as an employee is another way to acquire equity, typically through stock options included in compensation packages.
Is Magic worth joining?
With a $1.6 billion valuation and backing from top investors, Magic presents a compelling opportunity in the AI-driven software development space. To make an informed decision, you can use platforms like Prospect to independently evaluate the company's potential and what an equity offer might be worth.
What should I do with my Magic stock?
Managing equity in a private, high-growth company like Magic involves understanding complex tax implications and the ideal timing for exercising options. Using a service like Prospect can help you create personalized strategies for your stock options to optimize their value and minimize taxes.
Can you sell Magic stock?
As a private company, Magic stock is not traded on public exchanges, but employees may be able to sell shares through company-approved secondary market transactions. Platforms like Prospect can help you track secondary market prices and understand the process for selling pre-IPO shares.
How can I find the value of my Magic stock?
The value of private stock is typically based on the company's latest 409A valuation and recent funding rounds, with Magic's latest valuation reported at $1.6B. To understand the potential future value of your specific grant and track secondary market prices, you can use tools from Prospect that provide data-driven projections.
What is Magic's equity worth?
Magic's most recent valuation is reported at $1.6 billion, which serves as a benchmark for the company's total equity value. The worth of an individual's equity grant depends on the number of shares and the company's performance, which can be modeled using an equity calculator.
What is Magic's stock ticker symbol?
Magic does not have a stock ticker symbol because it is a private company. Ticker symbols are only assigned to companies once they become publicly traded on a stock exchange.
Can I buy or sell Magic stock?
Since Magic is a private company, its stock is not available for purchase on public markets like the NYSE or NASDAQ. Selling shares is typically restricted to employees and early investors and may be possible through secondary markets, a process that equity management platforms like Prospect can help you navigate.
What is the criteria to buy or invest in Magic stock?
Investing in a private company like Magic is typically limited to accredited investors and venture capital firms that participate in organized funding rounds. For employees, the primary way to acquire equity is by exercising stock options granted as part of their compensation package.
