Andy Rubin Departs From Playground Global -- Update
October 11 2019 - 07:25PM
Dow Jones News
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 katie.roof@wsj.com
(END) Dow Jones Newswires
October 11, 2019 19:10 ET (23:10 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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