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Android Creator Puts Essential Up For Sale, Cancels Next Phone (bloomberg.com)
Bloomberg reports that Andy Rubin's Essential Products business is considering selling itself and has canceled development of a new smartphone. The news comes several months after numerous reports suggested that the Essential Phone's sales were tepid. From the report: The startup has hired Credit Suisse Group AG to advise on a potential sale and has received interest from at least one suitor, the people said. Essential is now actively shopping itself to potential suitors, one of the people said. The startup, part of Rubin's incubator Playground Global, has raised about $300 million from several investors, including Amazon, Tencent, and Redpoint Ventures. It was valued at $900 million to $1 billion about a year ago, according to an analysis by Equidate, which runs a market for private company stock.
The startup has spent more than $100 million on developing its first products, about a third of the money it raised to build the company, the people said. Current discussions are focused on a sale of the entire company, including its patent portfolio, hardware products like the original smartphone, an upcoming smart home device and a camera attachment for the phone. Essential's engineering talent, which includes those hired from Apple and Alphabet's Google, would likely be part of a deal. The company hasn't yet made a final decision on a sale, the people said.
The startup has spent more than $100 million on developing its first products, about a third of the money it raised to build the company, the people said. Current discussions are focused on a sale of the entire company, including its patent portfolio, hardware products like the original smartphone, an upcoming smart home device and a camera attachment for the phone. Essential's engineering talent, which includes those hired from Apple and Alphabet's Google, would likely be part of a deal. The company hasn't yet made a final decision on a sale, the people said.
Had the proprietor acted in time, and purchased a sufficiently secure phone (instead of all those retentive burner phones), Essential Consultants LLC might still be New York's very own diplomatic Peshawar.
[*] Democrats and principled liberals would know it best as Peshtar (Peshawar + Ishtar).
Unfortunately, rock trolls squish you into culinary essence without so much as a howdy-do, or a quick inquiry into your Jahm Dough (who know rock trolls had a Boston-cream accent?). Besides, even if you try to squeak out "essential" you'll never get past the "ts" without the highly suggestible troll going "good idea" and ka-bam, one flat kettle of marrow-crux-lifeblood pate.
Despite their legendary suggestibility, rock trolls do tend to pass the marshmallow test, and are thus prone to stocking root cellars with many excellent preserves.
Cohen's essence—which is simply too delicious for his own good—could be facing thirty years in the regularly-ventilated fruit-leather infirmary, depending on how he jockeys the rest of his already broken hand.