Cyanogen Now Worth $1Billion After $80 Million In Funding Raised

[DroidModderX]

​

Cyanogen just announced they have received another $80 million in funding from big companies like Twitter, Qualcomm, Telefonica, Ventures, and Rupert Murdoch, plus some other "not yet announced partners." This brings the companies value up to nearly $1Billion. This company has come a long way from its humble beginnings as a Kang of the Jesus Freke Rom.

With the money Cyanogen looks to make Android more open than ever. They plan on making developing easier by breaking down barriers that currently exist. The partners are interested in what is being done by Cyanogen to open source for the benefit of both the consumer and service providers. CEO Kirt McMaster said some pretty delusional things during the interview like "Google is a common enemy", and "We are putting a bullet in Google's head"! Not sure why all the mean spirited hatred. There would be no Cyanogen without Google. There are all kinds of money making plans like licensing and integrating CM into apps. CM is even looking to take the place of Google services like Gmail, talk, and so forth and so on. This company doesn't have high asperations nor unrealistic expectations do they?


via Forbes

 

[kodiak799]

Very interesting valuation for a company that's dead in the water unless the OEM's and Carriers reverse direction on locking-down devices.

 

[cybertec69]

These companies figure what the heck, let's throw some spare change at this and if it sticks great "we make out nice", if this fails, so what, this is coffee money for these corporations, and a tax write off.

 

[wicked]

Their CEO is still a tool.

 

[pc747]

Their CEO is still a tool.

You referring to the comment he made about putting a bullet to the head of Google?

Yeah as much as I applaud that CM went from rom to a business and literally a testament to the idea that if you have an idea and willing to work you can make anything you want, CM is nowhere near what Google has done with android. Android is not what has set google apart, it is where they started from but what made them able to compete on the same plane as Apple is what they have done with their software particularly with Google Play and service. I feel like Google has really come a long way where I use to seek roms because they had something android didnt I now prefer stock android because it just works as well as do everything I need.
I still applaud CM for coming this far turning their passion into a paycheck so hats off to that and a further testament to the American dream.

 

[wicked]

You referring to the comment he made about putting a bullet to the head of Google?

Among other things, yes.

 

[Jeffrey]

Their CEO is still a tool.

+ 1 @wicked . If we were not Family Friendly, I would describe just what a tool he is.

 

[bkdodger]

Yeah.. Gotta go with the sentiment..

Tapped by Big 6

 

[FoxKat]

Here's me and my respect-|-------------------------------------------------------10,000 miles-----------------------------------------------------------|-here's Cyanogen.

 

[pc747]

Cyanogen Inc. Ramps Up The Rhetoric To Maximum Crazy Will Partner With Blu To Launch A Phone Later This Year With No Google Apps

Wow, they really have not been paying attention to the amazon phone numbers. Their desire to unseat Google is clouding their judgment.

 

[cybertec69]

It's the I want to get rich quick scheme I see happening more and more in today's tech industry, I am a black car FHV driver in NYC and pick up many of these types of dusche bags, I call it the tech/Google syndrome, if I tell you the crap I hear coming out of some of these people's mouths, it would make your jaw drop.

 

[FoxKat]

It's the I want to get rich quick scheme I see happening more and more in today's tech industry, I am a black car FHV driver in NYC and pick up many of these types of dusche bags, I call it the tech/Google syndrome, if I tell you the crap I hear coming out of some of these people's mouths, it would make your jaw drop.

Yeah, but the really sad part is that the corporations that fund these douche bags have so much money that dumping a few mill on them just to see if they'll crash and burn is like a game for them. So many of these wannabees actually do hit it for millions. Then we have your rich douche bags, the worst ones of all.

 

[kodiak799]

Well, they allegedly already turned down an offer from Google, probably because they think the company is worth multiples more than Google does.

And apparently Cyanogen has been able to convince investors of their value. We don't actually know if $1B is accurate, but we do know they've raised $110M to date. If the $1B is legit, it's incomprehensible to me that Cyanogen could one day be worth $10B, which a ten-bagger is what you look for on deals like this. I just don't see how Cyanogen gets more than "go away" money from Google, and Google doesn't pay billions just to make companies go away.

They can claim whatever they want, but it's hard for me to believe they haven't given up at least 20% equity in this latest round, which would imply a valuation closer to $400M. So long as phones and carriers keep Android locked down, I just don't see Cyanogen getting even $1B from anyone. Even then, Google is going to dictate terms if you want to use their apps - and good luck cracking their stranglehold on email and the Playstore.

Prove me wrong, but Cyanogen just looks like a dead fish to me.

 

[pc747]

Yeah, but the really sad part is that the corporations that fund these douche bags have so much money that dumping a few mill on them just to see if they'll crash and burn is like a game for them. So many of these wannabees actually do hit it for millions. Then we have your rich douche bags, the worst ones of all.

Further proving free market is fair. Whether I like a person or not they are given a fair chance to make something of themselves. What I am interested in is do the maintainers of CM ROMs get a fair wage. I am guessing so as we had not heard an out cry from people who build for CM.

I have no beef with CM, aka Kondik, as he marketed himself and made money. Though you could argue it was off the collaboration of the community and a Kang of Jesus freke. But years ago during the hype of the ROM era my biggest gripe of people begging and demanding was why not take your work and put it on the market (now Google Play Store) and allow your work to complete. CM did that, not necessarily Google Play, but the actual market. Yeah I disagree with the approach of trading Google Play and Services for Amazon Market but that is the awesome thing about the free market in I can voice my opinion by what I back with my wallet. And as much as companies contribute no one does something for nothing. They are making a contribution believing CM may have an in to the rooting community and for companies like BLU and small phone manufacturers this can boost their numbers from thousands to possibly doubling that. In the end they know they are not going to compete with the Apples, Samsungs, HTCs, or Motorolas but that is not their primary market right now (may be a long term hope). They are trying to find a way to continue selling cheap cell phones on cheap non contract carrier plans. And the cheaper they can produce the better. These cheap companies want to kick out phones with out maintaining it and if they can get somebody to do that for them for pennies on a dollar then they made out. Remember Google came out years ago calling out companies for their lack of updates as it was bringing down google. So if those companies can put out cheap google looking phones with a few popular apps then they are in business.

 

[kodiak799]

What I am interested in is do the maintainers of CM ROMs get a fair wage. I am guessing so as we had not heard an out cry from people who build for CM.

No idea how much the top guys have cashed out or pay themselves, but with $110M raised so far that's enough to pay each of their 70(?) employees $150k for 10 years.

I'd love to know what their revenues are. Doesn't seem like it could be much more than a few million, and I can't ever see them making enough to pay decent dividends. Seems like purely a bet that either Google or Sammie, possibly MS, will one day pay billions for the company primarily for strategic reasons. But to me it's telling that he was at Sammie, and they chose to stick with Tizen and also NOT to outsource upgrades/maintenance to a company like Cyanogen. The latter makes a lot of sense, but I think most of us crack flashers would acknowledge the rom community is not a commercial quality service.