In the seemingly never-ending saga of companies believing that, despite generating no real revenue, they’re worth some multiple of an Instagram, Cyanogen Inc. is reportedly seeking additional funding on the basis of a $1 billion valuation. This apparently comes on the heels of talks with Google’s Sundar Pichai, who expressed interest in acquiring Cyanogen, presumably to become part of Google’s Android group.
Cyanogen has allegedly been using this offer as a form of leverage in negotiations for funding, which of course they have, because who wouldn’t use that as a way to convince investors your not-profitable company is worth throwing large sums of money at?
The Information: Cyanogen Inc. Turned Down Buyout From Google, Seeking Funding On $1 Billion Valuation was written by the awesome team at Android Police.