Highlights
Google thinks it can be young and crazy again. And it is betting $200 million that it is right. In the hottest market for technology start-up companies in over a decade, the Silicon Valley behemoth is playing venture capitalist in a rush to discover the next Facebook or Zynga.
Start-ups backed by Google Ventures can work in a 20,000-square-foot space at the Googleplex, supplied with a Ping-Pong table and a snack-filled kitchen. In exchange, they make a $5-a-month donation to the barbecue fund.
Google Ventures also turns to Google employees to find investment ideas. It offers $10,000 to anyone who suggests a start-up that results in an investment. And the company has invested in three of the ex-Google employees who have been leaving as the company grows.
Fifteen years ago, a friend of his, Anne Wojcicki, suggested he meet a couple of engineers who were working on a start-up in her sister’s garage, but he declined. The start-up was Google, which still makes him cringe.
“It’s ironic I’m running the venture business now,” Mr. Maris said, “because I missed the biggest venture idea of all time.”
