Alphabet, Inc. Acquires Bebop Technologies Inc. For $380 Million

Apple News App Attracts Publishers Amidst Rocky Start In Media Industry

2015 has been one of the best years for Google, Inc.; 2016 has a lot to offer with its autonomous car sector, virtual reality market and YouTube.

Bebop Technologies, Inc., a startup founded by Diane Greene who is a Director and Executive at Alphabet, Inc., was acquired by the largest search engine company for a price of $380 million, as per a securities filing earlier on Monday. According to the agreement of the acquisition, the Internet giant offered to give $380 million in shares on December 17, 2015.

The filing stated that the Diane Greene received stock valued $148 million as part of the deal in this entire acquisition which the recognized Silicon Valley businessperson plans to donate to a “donor advised fund.” This advised fund is a way of giving to charity through which the donor can have tax benefits and keep a check on how much money is donated and where it is going, as stated by the Internal Revenue Service.

Greene has been a part of Alphabet, Inc. for a while now and also been a board member since 2012. Under the Bebop deal, the entrepreneur was named the Senior Vice President of Google’s cloud computing business in November. Currently the cloud computing business has been lagging behind Microsoft Corporation and Inc.’s cloud sectors, as they are the market leaders.  For years she has specialized in the area of selling cloud storage services and tech devices and she is doing the same for Google by selling these products to larger organizations.

A cloud executive, Urs Holzle who works alongside with Ms. Greene has stated that the acquired technology will play a vital role in company’s enterprise IT offerings. At the time when the acquisition was announced Bebop Technologies had 39 employees and 76 investors, according to the filing presented on Monday. Some of the investors that have helped the startup out were Andreessen Horowitz and Sequoia Capital.

On the other hand, 2015 has been a good year for Google’s stock as it appreciated 45%, showed increased revenues as well as earnings. It turned out to be one of the most striking days for the tech giant. The next planned step for the company is penetrating into the virtual reality market with its Android VR along with Google Glass Gen2. Additionally, another segment on which the organization is going to keep its focus on is the monetization of YouTube, which is its best offering. The third attention is going to be given to the autonomous car sector – although these vehicles are not scheduled to be launched it 2016 but analysts predict it as one of the major revenue generators for the future.


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