Andy Rubin’s Essential Raises $300M From Amazon, Foxconn, Tencent
Amazon is such a big company that today it can afford to invest in extremely risky projects. Not in vain, Jeff Bezos has become the richest man in the world. One of these projects is the Essential Phone, a mobile created by Andy Rubin, the founder of the world’s most used and popular mobile operating system, of course, Android. It is already in production and apparently has Amazon funding.
The characteristics of the Essential Phone by Andy Rubin seem to have attracted interest from Amazon and other technology giants. It is about 300 million dollars that Andy Rubin’s company Essential Phone have managed to raise in this round of funding. There are investors of the size of Foxconn, the company that makes the iPhone, Tencent, as well as the Australian Sovereign Fund.
Undoubtedly, Andy Rubin seems to be benefiting from the financing bubble is now living the technology market. Virtually any moderately solvent startup operating in Silicon Valley can easily obtain financing. The best example is Snapchat, which a few months after going public is free to fall in terms of value and users.
This device is designed to compete directly with the high-end devices of the tech giant companies like Samsung and Apple. Its price is around $ 700 but has not left the factory so far.
When it does, it is unlikely to succeed if we consider that for that price you can buy better phones today, although you can never say with 100% certainty that an idea will fail.
With these perspectives, why Amazon is interested in financing the Essential Phone and the projects that come out of Rubin’s head? According to some statements & to Bussiness Insider, it seems that the reason is Alexa, the smart speaker of Amazon. The Essential Phone will fit like a glove with these devices, and that has aroused the interest of the online market giant Amazon.
These speakers are not available in India, although they are one of the big bets of companies like Amazon and Google. It is rumored that the tech giant Apple is also preparing one with Siri, although it is a rumor to be confirmed.
So, what do you think about this new interest of Amazon and the Essential Phone? Simply share your views and thoughts in the comment section below.