Essential
A mobile and home devices company focused on creating consumer technology products for the 21st century.
Description
Essential was a new type of company focused on creating consumer technology products for the 21st century.
Legal Name
-
Former Legal Name(s)
-
Company Reputation
-
Entity Type
Private limited company
Ownership Status
-
Operational Status
Inactive
Founded Date
2015
Operational Duration
5 years
Shutdown Date
2020
Last Financing Round
Series B
Total Raised
USD 330M
Last Financing Date
7 Jun 2017
No. of Funding Round(s)
2
No. of Investor(s)
2
No. of Employees
100 - 250
Total Revenue
-
Post-money Valuation
-
Market Capitalization
-
Stage of Development
Development
Transactional Model Type
B2C
Defensibility Moats
Willingness to experiment,
City
Palo Alto
State/Province
California
Country
United States
Industry
Consumer Electronics
Categories
Smart Home, Hardware, Software, Mobile Devices, Manufacturing, Electronics,
- Lack of Strategy
- Essential announced its closure three years after its launch in 2015.
- The company's only complete model, the Essential Phone, did not sell well and received mixed views. A follow-up phone was canceled, and other promised devices such as a smart home assistant called the Essential Home never come into view.
- Essential was in the process of developing another phone called "Project Gem" with an elongated design that the company teased back in October 2019, but the company now framed its shut down due to having "no clear path to deliver it to customers."
- On its blog post the company wrote,"Despite our best efforts, we've now taken Gem as far as we can and regrettably have no clear path to deliver it to customers. Given this, we have made the difficult decision to cease operations and shutdown Essential."
No clear path to deliver.
Note: Direct competitors are defined by similarity score of more than 40%, while similar companies are defined by similarity score of less than 40%
| No. | Image | Name | Similarity score | Description | Industry | Categories | Location | Ownership status | Entity type | Stage of development | Transactional model type | Defensibility moats | Last financing round | Total raised | Post-money valuation | Last financing date | No. of funding round(s) | No. of investors | Investors | Total revenue | Market capitalization | No. of investments | No. of acquisitions | No. of board seats taken | Competition | Management | No. of employees | Company reputation | Contact info | Operational status | Operational duration | Shutdown date | Founded date | Legal name | Former legal name(s) | Ticker |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1. |  | Zune | 46.7% | A line of digital media products and services marketed by Microsoft. | Consumer Electronics | Electronics, Music, Technology | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | Inactive | - | - | 2006 | - | - | - |
2. |  | Amazon Fire Phone | 46.1% | A 3D-enabled smartphone designed by Amazon. | Consumer Electronics | Software, Hardware | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | Inactive | - | - | 2014 | - | - | - |
3. |  | Apple Newton's MessagePad | 43.0% | A personal digital assistant device developed by Apple Computer for the Newton platform. | Consumer Electronics | Hardware, Technology, Electronics | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | Inactive | - | - | 1993 | - | - | - |
4. |  | Wattage | 41.2% | An online platform that made creating hardware easy. | Consumer Electronics | 3D Printing, Software, Hardware, E-Commerce | Canada | - | - | - | - | - | Seed | - | - | - | - | - | - | - | - | - | - | - | - | - | 50-100 | - | - | Inactive | - | - | 2014 | - | - | - |
1. |  | Fry's Electronics | 38.2% | - | Consumer Electronics | Hardware, Retail, Software | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10001-10001 | - | - | Inactive | - | - | 1985 | - | - | - |
2. |  | Ossic | 35.3% | A technology solution that focused on developing a 3D audio headphones. | Consumer Electronics | Audio, Hardware, Software | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10-50 | - | - | Inactive | - | - | 2014 | - | - | - |
3. |  | Kanoa | 30.9% | A headphone startup. | Consumer Electronics | Electronics, Sports, Digital Entertainment | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10-50 | - | - | Inactive | - | - | 2013 | - | - | - |
4. |  | Samsung Galaxy Note 7 | 27.9% | An android-based phablet designed, developed, produced and marketed by Samsung Electronics. | Consumer Electronics | Hardware, Software, Technology | South Korea | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | Inactive | - | - | 2016 | - | - | - |
5. |  | Lighthouse AI | 26.5% | A startup that offered AI-driven security cameras for smart home. | Consumer Electronics | Machine Learning, Artificial Intelligence, Smart Home, Security | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | Inactive | - | - | 2014 | - | - | - |
6. |  | Novelsys | 25.8% | A startup focused on wireless charging solutions. | Consumer Electronics | Electronics, iOS | Singapore | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1-10 | - | - | Inactive | - | - | 2014 | - | - | - |
7. |  | Jawbone | 24.2% | A tech company that manufactured wearable tech and portable audio devices. | Consumer Electronics | Wearables, Hardware, Fitness, Software | United States | - | - | - | - | - | M&A | - | - | - | - | - | - | - | - | - | - | - | - | - | 250-500 | - | - | Inactive | - | - | 1997 | - | - | - |
8. |  | Vertu | 22.8% | Offered luxury mobile phones. | Consumer Electronics | Mobile, Mobile Devices, Hardware, Product Design | United Kingdom | - | - | - | - | - | M&A | - | - | - | - | - | - | - | - | - | - | - | - | - | 5000-10000 | - | - | Inactive | - | - | 2003 | - | - | - |
9. |  | MotoBox | 22.4% | Simple, WiFi-enabled, OBD-II vehicle data logger and cloud services creating a platform for custom software development. | Consumer Electronics | Vehicles, Component, Software | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | Inactive | - | - | 2013 | - | - | - |
10. |  | Coolest Cooler | 22.3% | A multi-function cooler that was initially funded through the crowdfunding website Kickstarter. | Consumer Electronics | Electronics, Music, Sporting Goods, Wireless | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10-50 | - | - | Inactive | - | - | 2015 | - | - | - |
11. |  | Doppler Labs | 22.1% | A wearable technology company. | Consumer Electronics | Wearables, Technology, Hardware | United States | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 50-100 | - | - | Inactive | - | - | 2013 | - | - | - |
12. |  | Lily | 21.0% | A flying camera that took photos and video in the moment. | Consumer Electronics | Hardware, Drones, Robotics, Technology | United States | - | - | - | - | - | M&A | - | - | - | - | - | - | - | - | - | - | - | - | - | 10-50 | - | - | Active | - | - | 01-Sep-2013 | - | - | - |
13. |  | Lytro | 17.2% | Developed light-field cameras. | Consumer Electronics | Hardware, Electronics, Photography | United States | - | - | - | - | - | Late Stage | - | - | - | - | - | - | - | - | - | - | - | - | - | 100-250 | - | - | Inactive | - | - | 2006 | - | - | - |
14. |  | Ozmo Devices | 16.8% | Offered Wi-Fi compatible communication technologies that delivered cost-effective WPAN connectivity for battery-operated devices. | Consumer Electronics | Electronics, Enterprise Software, Hardware | United States | - | - | - | - | - | M&A | - | - | - | - | - | - | - | - | - | - | - | - | - | 10-50 | - | - | Inactive | - | - | 2004 | - | - | - |
15. |  | Seven Dreamers Laboratories | 9.5% | Maker of personal-use devices. | Consumer Electronics | Developer Tools, Robotics, Manufacturing | Japan | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 101-250 | - | - | Inactive | - | - | 2014 | - | - | - |
| No. | Image | Name | Investor type | Description | Location | Preferred investment stage(s) | Stages invested in | Assets under management (AUM) | Investment range | Investment sweet spot | Preferred investment focus | Preferred investment geography | No. of investments | No. of lead investments | No. of follow-on investments | No. of co-investments | Portfolio companies | No. of exits | Total exit value | No. of failed investments | Loss on investments | No. of acquisitions | No. of board seats taken | No. of funds | Limited partners | Co-investors | No. of partners | Partners | No. of employees | Management | Board members | Founders | Investor reputation | Contact info | Entity type | Legal name | Former legal name(s) | Founded date | Ticker |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1. |  | Playground Global | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
2. | | Redpoint | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| No. | Image | Name | Previous designation | Previous company | Previous biography | Previous profile type | Previous location | Experience | Education | Reputation | Current company | Current designation | Current biography | Current profile type | Current location | No. of investments | No. of exits | Total exit value | No. of board seats taken | Contact info |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1. |  | Andy Rubin | - | - | - | - | - | - | - | - | - | - | Andy is Sr. Vice President of Herbert Yentis & Co. Realtors in Philadelphia. He has served as co-leader of a development team that has built, acquired, and/or renovated retail and office properties throughout the Philadelphia area. He has negotiated over 250 commercial real estate leases and renewals with national, regional and local tenants and brokered the sale of numerous commercial real estate properties. Prior to that, he worked in Washington DC as a telecommunications consultant for Booz, Allen & Hamilton and Deloitte Consulting for corporate clients, including Owens Corning and the Puerto Rican Telephone Company, and government clients including the Department of Defense. Andy served on the Board of Directors for a major commercial real estate professional association serving the eastern PA/DE/NJ region and holds the CCIM (Certified Commercial Investment Member) designation. He is a graduate of Cornell University (BS, Electrical Engineering) and The Wharton School (MBA) and has served in a variety of volunteer roles in organizations throughout the area. | - | - | - | - | - | - | - |
2. |  | Matt Hershenson | Founder | - | - | - | - | - | - | - | Playground Global | - | Matt Hershenson is a co-founder of Playground Global](https://www.crunchbase.com/organization/playground-global), a company that invests in and incubates startups building software-based hardware. He was previously the senior vice president of advanced products at Danger. Hershenson worked as the director of Android at Google before which he was a systems architect at Philips Semiconductors. Hershenson holds a degree in physics from the University of Michigan. | - | - | - | - | - | - | - |
| No. | Financing date | Financing round | Total amount raised | Post-money valuation | Financial viability | Fundraising target amount | Remaining target amount | Financing type | No. of investors | Board seats | Lead investors | Entity type | Financing status |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1. | 7 Jun 2017 | Series B | USD 300M | - | - | - | 6 | - | - | - | Completed | ||
2. | 11 Feb 2016 | Series A | USD 30M | - | - | - | 2 | - | - | - | Completed |
