Microsoft Corporation (NASDAQ:MSFT) is trying all possible efforts to have a withstanding in the tech market as it planned to participate in Cyanogen Inc. latest fund raising. This came in light with the Cyanogen Inc., a new and hot venture that is strongly attempting to take on the dominance of Google Inc (NASDAQ:GOOGL)’s Android in mobiles, facing fresh rallying around itself. Cyanogen recently announced that in its third round of rising finance (including the ones from international corporate investors), it received $80 million.
Strong cash infusion by Cyanogen
The company, which is just 6-years old, has so far managed to infuse $110 million total funds. With this, the overall value of company, based in Palo Alto, stands at approximately $650 million. The strong cash withstanding of this start-up poses challenge to the efforts of Internet giant, Google to have control over Android. This has become especially the case in developing nations.
In its latest fund raising, Cyanogen attracted some big names as investors, and these included Twitter Inc (NYSE:TWTR), QUALCOMM, Inc. (NASDAQ:QCOM) and Telefonica Brasil SA (ADR) (NYSE:VIV).
The potential threat to Google’s Android OS
The technology companies are gearing up in alliance against Cyanogen, which is attempting to offer a different version of Android OS. The new version will challenge the one that has already been approved by Google. The OS of Cyanogen is among various other Android versions that root out from China and mostly operate beyond the control of Google.
Technically speaking, Android is made free to access for the software developers if they wish to make amendments to it and distribute. This is done as per the open source arrangement. However, Google demands the makers of handsets to install other Google apps apart from YouTube and Maps, and give them prominent placement as well.
Participation of corporate investors: A Push within the Techies
The participation of more and more corporate investors in the new company is hinting towards a fact that the tech industry is looking for another option for Android, which is strongly dominated by Google Inc (NASDAQ:GOOGL).