Essential Products Inc., a start-up co-founded by Android creator Andy Rubin who launched last year with great fanfare, plans to sell and canceled the development of a new smartphe, according to people close to the subject. The start-up told Credit Suisse Group AG advice a potential sale and received interests from at least e suitor, the people added. Essential is now actively buying from potential ctenders, said e of the attendees. The startup, which is part of Rubin's Playground Global incubator, raised approximately $ 300 milli from several investors, including Amaz.com Inc., Tencent Holdings Ltd. and Redpoint Ventures. According to an analysis of Equidate, which manages a market for shares of private companies, it was valued between $ 900 and $ 1 billi a year ago.