Tuesday, May 4, 2010

Google Expands VC Staff to Do More Deals This Year

Google is gearing up to invest in more startups instead of buying them outright.

The company told reporters Monday that its year-old venture capital division has been expanding so it can evaluate more opportunities brought to it by entrepreneurs. Google Ventures now has a staff of 16, up from just two people when it started early last year.

After investing in eight startups in 2009, Google Ventures has put its money in two others this year. It latest investment is in Corduro, which provides payment services for mobile devices and traditional retailers.

Although the deal volume is expected to be higher this year, Google still plans to limit its venture capital investments to about $100 million annually.

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