Andy Rubin recently launched Essential, a MOBITECH start-up
company that would surely break into the mobile gadgets market if proper
funding is available. The android creator who was with Google until he left in
2014 had been able to rake up $300 million dollars for the startup.
Essential has been valued close to over 1 billion dollars
all thanks to Equidate who carried out the analysis. Andy Rubin’s Essential
filed and submitted all necessary documents on the new mobile tech startup just
last month.
Andy Rubin in May unveiled the firm’s first products: An
echo-like gadget for home use and a sophisticated smart phone that runs on
android Os. Though investors financing the project are yet to be known it is evident
it will be a success owing to the precedence of Rubin who is a co-founder.
Essential was created from Playground Global, Andy Rubin’s
tech start up he formed immediately he left Google in 2014. We all know Rubin
has over 10 years experience in the mobile technology industry and was in
charge of Android at Google.
According to Equidate, the new financing round created a
separate class of shares with more voting rights, suggesting Playground Global
has almost total control over Essential.
Rubin is now faced with a task to fend-off competition from
the likes of Samsung, Oppo, I-phone, Infinix and other top mobile phone
producers.
Andy Rubin who went to SoftBank group Corp. to negotiate a
deal that would include his new startup in the firm’s 100 billion dollars tech
fund said the deal did not fall through because there was an investor who
happens to be a fierce rival. We all know that’s apple inc, though they were
not mentioned but Rubin later said: “I just went to other investors, I am lucky
to have good support from people that want to support these crazy, big
audacious things.”
At the unveiling of the mobile phone which costs $699,
essential also unveiled an internet connected speaker for home use with a
screen. The Home speaker runs a new operating system built by the company.
With This, Andy Rubin is surely back into the mobile phone industry for good.
Posts
Wow very motivating i remember back then in 2014 when i wanted to launch my own app but it didn't later work out
ReplyDeleteCool, But i think $699 for start is expensive..
ReplyDeleteIts cool, been looking for an article like this
ReplyDelete