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Secretive Startup Magic Leap Loses Top Marketing Executive

Brian Wallace Source: VCG via Getty Images

Magic Leap Inc., a secretive augmented reality startup with a massive funding warchest, lost its top marketing executive before the company has even brought its first product to market.

Brian Wallace, a veteran smartphone executive with previous stints at BlackBerry Ltd., Samsung Electronics Co. and Google, left Magic Leap in October, the company confirmed. The startup made waves when it brought Wallace on in April 2014, after closing a $50 million venture capital round.

Since then, Magic Leap has raised more than $1.3 billion in additional capital from tech giants such as Qualcomm Ventures, Alibaba Group Holding Ltd. and Alphabet Inc.’s Google. The latest investment round, in February...