Global AI in healthcare market expected to rise to $164B by 2030
The market size for 2023 was $10.31 billion
Read more...Google is going to be shaking up its executive ranks a bit, changing out the head of its mergers and acquisitions group, and reportedly creating a new late-stage investment group for its old M&A chief to run.
Google confirmed to VatorNews that its Deputy General Counsel, Don Harrison, will be leading Corporate Development beginning in 2013, and that the previous head of M&A, David Lawee, will be pursuing other interests within Google.
According to his Google Ventures profile, Harrison has experience with M&A deals, having completed over 70 deals, as well as an IPO, since coming to work for Google in early 2005.
“Don now leads the legal team that supports Google’s M&A and investment activity and is one of Google’s lead negotiators. Working at Google has also allowed Don to enjoy exposure to a variety of projects, including complex M&A, investments and JV structures, innovative compensation programs, and establishing Google Ventures,” his biography reads.
The news was originally reported by Reuters on Friday, which stated that Lawee will be taking charge of a new late-stage investment group. Google would not confirm or comment on this news.
Google already has an early stage fund, Google Ventures, which Harrison is an advisor to. Founded in 2009, Google Ventures typically funds around 40 to 50 seed-stage deals every year. It invests $250,000 or less in a company, but it has invested to $10 million in around 15 companies. Google Ventures aims to complete one or two deals in the $20 to $50 million range every year.
Last month it was announced that Google would be increasing funding from $200 million to $300 million, so that the company can continue to invest in later stages of development. By being able to invest larger amounts of money, it will put Google Ventures into the same league as other, more established funds, as well as allow Google Ventures to attract higher-profile deals, as it has not yet invested in any companies that have made it really big.
Some of Google Venture’s investments so far include coupon and deal marketplace WhaleShark Media; online coupon site RetailMeNot; interactive entertainment company Kabam, where it participated in an $85 million round in May 2011; a $10 million round in ridesharing company SideCar; vacation rental home listings website HomeAway; cancer diagnostics company Foundation Medicine; smart-thermostat company Nest; carsharing service RelayRides; and smart-grid company Silver Spring Networks.
It would seem logical that the new late-stage fund would be a continuation of those investments, but the new late-stage fund has not yet been finalized, according to the Reuters report, and could reportedly operate separate from Google Ventures altogether.
(Image source: https://www.googleventures.com)
The market size for 2023 was $10.31 billion
Read more...At Culture, Religion & Tech, take II in Miami on October 29, 2024
Read more...The company will use the funding to broaden the scope of its AI, including new administrative tasks
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Unlike the proprietary, single application products offered by most vendors, Silver Spring Networks' solution is an IP-based network built on open standards. This approach provides the greatest operational and economic value by supporting a broad range of utility applications that reach the entire delivery system. The result: the utility is in control of implementing the business changes necessary to improve efficiency, reliability and customer service while reducing costs.Startup/Business
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RelayRides is the world's first peer-to-peer carsharing service. Our revolutionary service provides the technology, infrastructure and marketplace for car owners to securely and conveniently rent out their vehicles when they are not using them personally. This provides people seeking convenient transportation with a new option, and makes it easier for urban dwellers to enjoy mobility without owning a car.
As the average US car is driven only 66 minutes a day, RelayRides represents the first opportunity for car owners to monetize this underused asset. By providing the infrastructure, technology and marketplace for car owners to rent out their vehicles, RelayRides gives current car owners the means to monetize a largely underused asset. By enrolling in RelayRides, owners turn a car from an expense into a cash machine, with average profit of approximately $3,550 annually (net of depreciation costs).
How RelayRides Works:
Car owners list their vehicle on the RelayRides website, designate availability, rental price, and who may rent the vehicle (via Facebook and other social networks). Car renters browse available vehicles on RelayRides.com, reserve a car by the hour or day, and swipe an issued card over a card reader sensor on the vehicle for access during rental.
To streamline the rental experience, gas and insurance are included.
Startup/Business
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Description
Kabam is an interactive entertainment company leading the next wave in social gaming, developing and publishing massively multiplayer social games (MMSG’s), including the popular and critically praised title Kingdoms of Camelot and Dragons of Atlantis. Our studios focus on combining the best elements of traditional and social gaming to appeal to a growing audience of players looking for deeper, more engaging social games. The first wave of Kabam’s new games for Facebook and leading media sites have been widely recognized for their depth of play and social interaction.
Kabam started out as Watercooler, whose aim was to make connecting with your friends, family, and other fans of your favorite TV shows or Sports teams more compelling than ever before. By bringing fan communities into the context of your social network, Watercooler enables more engaging sports and TV fan experiences. Fans are able to access Watercooler's FanSection and TVLoop communities no matter where they are on the web: Facebook, MySpace, Bebo, Friendster, Hi5, MyYahoo, and TVLoop.com. Over 35 million sports and TV fans have joined Watercooler's fan applications making it the largest online fan community.
Company History
Kabam was founded by a team of social networking and community software professionals in Mountain View, CA, in 2006. The company has raised a Series A round of financing from Canaan Partners of Menlo Park, CA.