Google To Set Up VC Shop
Google Inc. (NASDAQ:GOOG) is setting up a venture capital arm of the company to monitor potential investments. The Google venture capital arm will be lead by current SVP of Corporate Development and Chief Legal Officer, David Drummond. Bill Maris will also join the investments team. Maris was a neuroscience and worked with Sergey Brin’s wife, Annie Wojcicki at a company called Catalytic Health [TechCrunch].
Many technology and media companies have set-up their investment arms. Examples include Intel Capital Intel Corporation), Steamboat Ventures (Disney), Bezos Expeditions (Amazon.com), etc.
Google is especially known for overtaking companies through acquisitions rather than equity deals. In all of Google’s company transactions, only three of them were equity deals, including a $1 billion investment to buy 5% of AOL several years ago. Wikipedia has a list of Google acquisitions.
Any guesses on the future name of the investment arm? Google Greenback? Google Gold?