Google Ventures popularly known as GV was founded by Bill Maris some 8 years ago. On Wednesday, the man and CEO of the company announced his intention to step down from the company. To seek new adventure is how he explained this. It was at the birthday anniversary event of Alphabet which is a parent company of Google that the announcement was made public. GV has been the corporate venture capital arm of Alphabet. Right now Maris plans to spend time with his wife and son, prior seeking those new adventures that he spoke about.
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Fortune has reported a gross holding of $2.4 billion in assets in favor of GV. The official GV website shows their portfolio to be including Uber, Nest, Jet and Medium. Maris had been a neuro scientist by qualification and joined a Swedish investment company in the 1990s. He founded a web hosting and that was his move into the tech world where Google picked on him in 2007 to brainstorm the idea of a capital unit system which turned out to be GV finally. Was two years of work that produced this very flexible platform for developing investment strategies, competitive compensation and which has a supposedly limitless capital supply. One other astounding factor of the project being its successful launch in the very first attempt.
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Most corporate ventures look at capital groups as something termed “Dumb Money”. GV however has proved this thinking otherwise. Many of the Silicon Valley’s hot entrepreneurs have rushed to GV for their funding requirements.
Bill Maris would be replaced by David Krane who has been the managing partner at GV. David Krane has been the communications man for Google before moving to GV and looking after the day-to-day operations of the company while Maris was the vision man of GV. This would not be the first major shuffle in GV, as the company lost Chris Urmson, who was the director at Alphabet. There was CEO of Nest , Tony Fadell, who also had resigned just a while earlier. While Maris has announced his intentions of stepping down via internal office memo on Wednesday, he has confirmed the same on Thursday.