How would you react if your small startup company suddenly acquired more than $500 million in funding? That’s the situation that the small team of employees at Magic Leap found themselves in. On Monday, October 21, Google Inc. provided $542 million to finance the small Florida startup. Undoubtedly, the ambitious members of Magic Leap leaped with joy, but the rest of the world was very confused because this deal seemed to come out of nowhere.

Until now, the only thing people might have known about the company would have come from their TEDx talk back in early 2013. This was definitely unforgettable, featuring a live band, Elmo’s and Oscar the Grouch’s weird cousins, an astronaut and lots of fudge.

Magic Leap seems to be largely involved in the development of augmented reality or simply AR. As they summed up in a press statement back in the beginning of the year, “Magic Leapʼs mission is to develop and commercialize what we believe will be the most natural and human-friendly wearable computing interface in the world.” They certainly have set the bar pretty high for themselves.

We can only wait and likely marvel at what Magic Leap might produce in the future. In a world where virtual reality is already being commercialized, knowing that some degree of augmented reality is not far off is rather exciting.