[Rumor] Cyanogenmod Turns Down Google Buyout Offer; Seeks $1 Billion Investor Funding

Discussion in 'Android News' started by dgstorm, Oct 3, 2014.

  1. dgstorm

    dgstorm Editor in Chief
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    [​IMG]

    According to the latest intel, Google’s Sundar Pichai had a meeting with Cyanogen Inc executives recently. supposedly they were trying to work out a possible Google acquisition of the popular Android mod and its team. Additionally, it appears that the CM team turned Google down, and is instead planning to seek $1 Billion in Series C funding from a few investors and tech firms.

    Besides the obvious value of the software and the skills of its developers, there is another reason Google may have been interested in a Cyanogenmod buyout, and it is also the likely reason that the CM team thinks they can get that much investor funding. The Cyanogenmod version of Android could be a decent competitor to stock Android. It's possible that the company will get funding from several sources who plan to use the CM ROM as the default OS of choice for their devices.

    What do you think if this is true? Should the CM team have negotiated a deal with Google or is forging ahead on their own the better course?

    Source: The Information
     
  2. danDroid

    danDroid Administrator
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    Wow, that valuation is crazy. You know how the saying goes.. A bird in hand is worth two in the bush.
     
  3. johnomaz

    johnomaz Silver Member

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    "Several potential investors involved in those talks say the company’s chief executive disclosed to existing shareholders that Sundar Pichai, who oversees Google’s Android team, expressed interest in acquiring the firm during a recent meeting with Cyanogen’s leadership."

    Google hasn't confirmed this and right now its just the CEO telling other investors in private Google was looking to buy them. IMO, its a ploy to get investors more interested because you know, if Google is interested in something it has to be good. Until Google confirms this, I don't believe it and the evaluation is ridiculous.
     
  4. dgstorm

    dgstorm Editor in Chief
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    Which is why I reported it as rumor... ;)
     
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  5. johnomaz

    johnomaz Silver Member

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    Agreed. Just giving my usual .02¢
     
  6. dgstorm

    dgstorm Editor in Chief
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    For sure! I only meant that I spotted what you were saying and concur with you about that possibility. It wouldn't surprise me if your assessment turns out to be true.
     
  7. cybertec69

    cybertec69 Silver Member

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    This is nothing new, many companies do this to build up their supposed value before selling to the highest bidder.
     
  8. sultonramdani

    sultonramdani New Member

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  9. Jeffrey

    Jeffrey Premium Member
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    A Billion is not out of reach for Google. They knowingly over paid on the Moto deal.

    I would think it's a rumor, but could be a first round discussion
     
  10. Ollie

    Ollie Droid Does

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    I haven't used Cyanogen in a very long time. I think the S3 was the last phone I ran it on, but couldn't get into it. I have it on the good old HP TouchPad still. I liked that their firmwares were so small in size, but there was always a catch to using it. Either this didn't work or that didn't work so I gave up on it.
     
    #10 Ollie, Oct 4, 2014
    Last edited: Oct 4, 2014
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  11. t3charmy

    t3charmy New Member

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    Been running Cyanogenmod for almost 4-5 years now, ran it first on my Evo 4G, then my Evo 4G LTE, and now my Note 3(rooted 3 weeks after I got it..)...besides the occasional reboot due to Bluetooth which is currently being worked on... I've had no issues.
     
  12. jaytk70

    jaytk70 New Member

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    It's not a billon that's be offered for them, this is the investment they are supposed to be seeking after turning Google down, allegedly.
     
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