Official Google blog,"Google's newest venture" March 30
Today we're excited to announce Google Ventures,
Google's new venture capital fund. This is Google's effort to take
advantage of our resources to support innovation and encourage
promising new technology companies. By borrowing the best practices of
top-tier, financially focused venture capital firms and bringing to
bear Google's unique technical expertise and brand, we think we can
find young companies with truly awesome potential and encourage their
development into successful businesses.
New York Times article today, March 31
SAN FRANCISCO — Google, which has invested in many startups over the years, will announce on Tuesday that it is creating a venture capital arm whose main objective will be to turn a profit.
Deal Book NYT, today March 31, "Google Announces Venture Fund"
The group, called Google Ventures, is expected to invest up to $100
million over the next 12 months, The New York Times’s Miguel Helft
reported. It will be overseen by David Drummond, who will continue in
his role as senior vice president of corporate developing and chief
legal officer at Google. Investments will be vetted by William Maris,
who joined Google about a year ago, and Rich Miner, a co-founder of Android, a mobile software start-up that Google acquired in 2005.
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