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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Seagate Technology Holdings PLC | NASDAQ:STX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.51 | 1.75% | 87.80 | 87.30 | 112.00 | 87.90 | 86.68 | 87.79 | 1,655,351 | 05:00:00 |
By Alistair Barr And Daisuke Wakabayashi
The creator of Android, the world's largest mobile operating system, is returning to his roots in hardware.
Andy Rubin, who nurtured Android at Google Inc. from 2005 to 2013, is launching Playground Global LLC to provide support and advice to tech startups making devices for consumers or companies.
Mr. Rubin said Playground had raised $48 million from investors including Google, Hewlett-Packard Co., electronics manufacturer Hon Hai Precision Industry Co., and other tech companies. Playground won't invest in startups, but will take equity stakes in return for its support.
Playground also plans to help entrepreneurs with distribution, manufacturing, financing and ways to integrate their devices with remote computing resources known as the cloud.
This approach is common in Silicon Valley and is known as an incubator or accelerator. Mr. Rubin described Playground as a "studio," where inventors, tinkerers and entrepreneurs can focus on building new gadgets and not worry about other aspects of running a business.
"Our aim is to free the creators to create," he said in an interview. "By bringing these partners to the table we can remove many of the roadblocks of bringing a great idea to market."
Others, including PCH International and Dragon Innovation, offer to connect startups with a similar suite of resources.
Playground, PCH and Dragon highlight renewed interest by Silicon Valley in hardware startups. Plummeting prices of microchips, sensors and other components make it easier for a small company to design devices and have them made quickly and cheaply by others. The spread of wireless Internet access and the rise of cloud computing allows these devices to be controlled remotely in more useful ways.
Other investors in Playground include Redpoint Ventures, a venture-capital firm with a history of working with Mr. Rubin, China's Tencent Holdings Ltd. and Seagate Technology PLC. Mr. Rubin declined to say how much each company is investing, or whether Playground has done any deals yet.
Google and H-P declined to comment. Hon Hai, Tencent and Seagate didn't respond to requests for comment on Monday.
Mr. Rubin, 52 years old, is a longtime gadget tinkerer with a particular interest in robotics. He worked at Apple Inc. in the early 1990s and then at Apple-backed General Magic, which tried to develop a hand-held communication device. After a stint at online video startup WebTV, he founded Danger in 1999 to make an early smartphone called the Sidekick. He founded Android in 2004 and sold it to Google the following year.
Write to Alistair Barr at alistair.barr@wsj.com and Daisuke Wakabayashi at daisuke.wakabayashi@wsj.com
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