Andy Rubin’s Essential is Now a Billion-Dollar Company

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Andy Rubin’s Essential is now a billion-dollar company, according to Bloomberg columnist Tim Culpan. Thanks to Foxconn’s FIH Mobile $3 million investment in Essential to own 0.25 percent of the company, Rubin’s brand that has yet to ship a single product is now valued at $1.2 billion, therefore rendering Essential a unicorn, as is the reference to a billion-dollar company in Silicon Valley.

It’s pretty staggering to think that a company who has delayed their first smartphone again and again without shipping any other products beforehand is already valued at over a billion dollars. It isn’t exactly clear how Essential has already reached such a feat, but early estimates back in July indicated they were close to the $1 billion mark. You could blame this at least partially on Rubin’s history as he is the father of Android, the third largest operating system in the entire world and one of the biggest players in mobile computing. This makes Essential extremely valuable on its own. And thanks to added funding and such investments as Foxconn’s recent one, it’s safe to assume this company probably is a unicorn by now, even though their goals still haven’t been met yet.

VIA: The Verge

Photograph via: Recode


3 Replies to “Andy Rubin’s Essential is Now a Billion-Dollar Company”

  1. […] is holding a couple of meet-ups to show off the device later this month, while Essential has officially reached unicorn status. All in all, Rubin’s  first smartphone seems to be falling into place, and it’s about […]

  2. […] smartphone due to having a plan on Big Red, good news: the founder of Android and newly-established unicorn Essential has announced the Essential Phone has been verified and now officially works on Verizon. […]

  3. […] as to how much the company’s worth at this point (before it even launched a product, it was valued at $1 billion), but if they do sell themselves to another party, they’ll be handing over everything from […]

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