Andy Rubin Departs From Playground Global -- Update

By Katie Roof 

Android software creator Andy Rubin has left Playground Global, the venture-capital firm he co-founded, a person familiar with the matter said.

Playground bought back Mr. Rubin's stake in May when he departed, and Mr. Rubin no longer has an active role at the firm, the person said. The news of Mr. Rubin's departure from Playground was earlier reported by BuzzFeed.

A spokesperson for Mr. Rubin in a statement said: "Playground Global bought out my interests earlier this year when the noise around my divorce and departure from Google made it difficult to focus on the tasks at hand. Playground is still an investor in Essential and we're continuing to innovate."

Playground is an early-stage investment firm that has raised $800 million across two funds.

Mr. Rubin came under public scrutiny for the $90 million exit package he got from Google parent Alphabet Inc. It followed sexual harassment claims from a former subordinate. Mr. Rubin denied the misconduct through his attorney. He departed Alphabet in 2014, but the settlement wasn't revealed until it was reported by the New York Times last year. The payment was publicly disclosed in a shareholder lawsuit earlier this year.

Mr. Rubin leads Essential Products Inc., a smartphone company he started. The company unveiled its new phone design this week. Playground remains an investor in Essential, the person said.

Mr. Rubin launched Playground in 2015 after his departure from Google. Playground raised its most recent $500 million venture fund in 2017. It raised a $300 million fund in 2015.

Playground's portfolio companies have included Wi-Fi business Eero, diabetes-treatment provider Virta Health Corp. and drone business Skydio Inc.

Write to Katie Roof at [e-mail]

(END) Dow Jones Newswires

October 11, 2019 19:10 ET (23:10 GMT)

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