Google to Extend Reach With Venture-Capital Arm from the Wall Street Journal reports Google is in the early stages of putting together a corporate venture-capital unit within Google.
Google’s senior vice president of corporate development and chief legal officer, David Drummond, is reported to be leading up the new unit. Google has hired William Maris, a 33-year-old entrepreneur, to help set up the venture-capital arm.
Google has been well-known for buying many tech companies in the past and incorporating those companies into the Google culture. It is expected that by creating a an official venture-capital arm within Google, that it will help formalize those efforts, hopefully leading to more successful investments.
This would make Google the largest technology firm to start a venture-capital unit. Intel, Motorola, and Comcast all have these units within their organizations.
Techmeme has further discussion on the report.