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Andy Rubin's new company already got screwed by Apple
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Andy Rubin&#39 s new company already got screwed by Apple : Andy Rubin's new company already got screwed by Apple
Andy Rubin, the former Googler who founded Android, is no stranger to the fight with Apple. The new company of Andy Rubin has already been perplexed by Chris Mills. After all, he and his mobile platform have been locked in an endless battle with the iPhone for the past ten years. But even though its new company does not have much to do with mobile operating systems, it has already lost due to Apple. During a conference last night, Rubin confirmed that Essential, its new company, lost an investment of 100 million dollars due to a conflict with Apple. For a company that is technically a startup, an investment of 100 million dollars is not to laugh at. Rubin basically confirmed a story first reported by WSJ In March: Essential was close to an agreement with the SoftBank Vision Fund for a $ 100 million investment, which would have valued Rubin's startup of $ 1 billion. The paperwork was supposedly in the final stages when SoftBank decided to go through, thanks to SoftBank's ties to Apple. The Vision Fund is a $ 100 billion fund that invests in new technology, and Apple has previously put $ 1 billion in the fund. If the deal between Essential and SoftBank had passed, that would mean that Apple would have a (tiny) stake in a rival smartphone maker. Although Apple was not opposed to the investment, SoftBank did not want the conflict to occur. The deal mattered less for the money, and more for the platform that SoftBank could have provided. Essential found investment cash elsewhere, but SoftBank had promised a great marketing boost for the new essential smartphone in Japan. As it is, Essential is launching around the world with zero support for major operators. It's hard to overstate how difficult it is for a luxury smartphone maker to break the market in the US. Apple and Samsung have almost total control over the luxury smartphone market
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