Google Moving Into Venture Capital-Will Invest $100 Million

March 31, 2009

(ChattahBox)–Google will soon to dive into the venture capital business, with its announcement this week of the formation of Google Ventures, which is committed to investing $100 million to worthy and profitable companies through the next 12 months. The venture capital unit will replace many of the charitable donations made in the past by Google.org, its corporate philanthropy unit. Google Ventures is looking for a few good investments in the Internet, clean energy and technology and life sciences

With credit dried up for many start-ups and fledgling new companies, venture capital firms and government funding are the only existing avenues of financing in these troubled economic times. Google Ventures should expect its mailbox to be full after its $100 million announcement.

David Drummond, senior V.P. of corporate developing and chief legal officer will oversee the venture capital unit. Rich Miner, a co-founder of Android and William Maris will sift through all the requests for funding and make recommendations.

Google Ventures isn’t wasting any time, it already invested in two promising companies, Silver Spring Networks, maker of electric grid technology and Pixazza, maker of imaging technology that links links online images with related products.

Google was formed in 1998 by Larry Page and Sergey Brin, and the company has gown to a global enterprise with more than 10,000 employees. Eric Schmidt came on board as chairman and CEO in 2001.

It’s hard to imagine a time without Google’s ubiquitous search engine instantly pulling up everything we want to know from Britney Spears’ latest escapades to recent advances in a cure for Cancer.

“It’s (all) a Google,” as Senator McCain once remarked.

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One Response to “Google Moving Into Venture Capital-Will Invest $100 Million”

  1. How To Invest - Google to invest $100 million in start-ups - The Inquirer « How To Invest on March 31st, 2009 10:01 am

    […] Google Moving Into Venture Capital-Will Invest $100 Million – Chattahbox.com(ChattahBox)–Google will soon to dive into the venture capital business, with its announcement this week of the formation of Google Ventures, which is committed to investing $100 million to worthy and profitable companies through the next 12 months […]

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