MAGIC MONEY

FLORIDA-BASED INFINITE REALITY CLAIMS IT RAISED MORE THAN $3 BILLION FROM A SOLE UNNAMED INVESTOR. THAT WOULD MAKE THE OBSCURE COMPANY THE BENEFICIARY OF ONE OF THE BIGGEST FUNDING ROUNDS OF THE YEAR. NOT ALL IS AS IT SEEMS.

- BY PHOEBE LIU AND IAIN MARTIN

In late February, Infinite Realitys cofounder and CEO, John Acunto, ran onto a sprawling stage at a studio space in Los Angeles to make a bombastic, if defensive-sounding, speech.

"The bullshit factor is gone," proclaimed the 53-year-old Acunto, illuminated by a neon blue backdrop.

"Do you really think that we would talk about $3 billion investments and be one of the largest companies in our space if we really weren't doing what we're doing?"-

he continued, according to a video of the investor event reviewed by Forbes. "Today is your celebration of giving us the capital. Stand up and clap for yourselves.... You built a $12 billion company!" Infinite Reality's chief business officer, Amish Shah, gushed to the audience of around 100 shareholders, "Our goal is to build a $50 billion to $100 billion company this year."