Editor in Chief
- Dec 30, 2010
- Reaction score
- Austin, TX
There were some faint rumors a few weeks ago that Foxconn was involved in the Series C investment of Cyanogen back in March. It turns out these rumors were true. A new report confirms that Foxconn did indeed invest $80 Million dollars in Series C investment fund money to help grow the budding Android OS alternative developer. Here's a quote with a few more details,
It appears the Series C was first reported back in March, with Twitter, Telefonica, and News Corp owner Rupert Murdoch all taking part.
Which makes the latest Foxconn announcement all the more confusing. It's unclear why Foxconn was only now named as an investor.
Nonetheless, the $80 million Series C (as it was described two months ago) brings Cyanogen's total funding to $110 million.
Cyanogen says it plans to leverage the latest investment to hire more employees and further build out its OS platform, which according to Cyanogen, "will create a more open, level playing field for third party developers." ~ ZDNet
What do you guys think? Are these companies that are investing in Cyanogen going to see a return on their investment or are they just throwing their money away?