News by Andrew Kameka on Thursday December 19, 2013.
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Cyanogen Inc., the for-profit startup created by the group of Android hobbyists who built the popular CyanogenMod ROM, have secured an additional $23 million from investors for its project to build a better version of Android. Combined with the $7 million the company received in its first round of funding, Cyanogen Inc. now has enough money to build more than just software for phones.
The original plan seemed to be for the company to create an aftermarket solution for its software and services. The Oppo N1 has so far been the only company to officially support CyanogenMod, but a second manufacturer plans to support CM, and Cyanogen Inc is now considering expanding into markets other than smartphones.
In an interview with Engadget, Cyanogen founder Steve Kondik says the company is working on attracting 100 million users by grabbing more attention in the US, China, and Europe. Once that happens, it will work to build freemium services, an app store, and look into wearable computers (smart watches and more), automotive tech, and TV. The company's CEO Kirk McMaster added that Cyanogen Inc will rapidly grow by hiring dozens more employees and starting new projects. McMcMaster said:
"We intend to hit the mass market in late 2014 or early 2015 with a new brand, complete focus on the mass market and a new design language. We'll bring to the market some new signature experiences that differentiate Cyanogen and any other brands we create."
Major investment company Andreessen Horowitz, the company that has bankrolled Twitter and plenty of other startups, leads the second round of investment into Cyanogen Inc.source: Peter Levine, via: Engadget
Andrew is MobileBurn.com's managing editor. He is based in Miami, Florida.