Tech and Web NEWS

Google Cofounder Sergey Brin’s Wife Anne Wojcicki Gets Another $2.6 Million Investment From Google for 23andMe.

By Amarendra Bhushan for CEOWORLD Magazine Updated:June 19, 2009


The internet heavyweight Google invests another $2.6 million into a company tied to the wife Anne Wojcicki of Google co-founder Sergey Brin brings Google’s total investment in the company to $6.5 million.

Google Inc. announced that it has invested additional $2.6 million in Series B preferred stock financing of 23andMe, Inc., co-founded by Anne Wojcicki (who’s married to Google co-founder Sergey Brin), a privately-held personal genetics company. Google said that it has previously invested about $3.9 million in the Series A preferred stock financing of 23andMe in May 2007.

Google said that it continues to hold a minority interest in 23andMe as a result of Series B investment. 23andMe’s Series B financing involved number of additional investors including New Enterprise Associates.

23AndMe was co-founded by Brin’s wife Anne Wojcicki in 2006. The name 23andMe refers to the 23 pairs of chromosomes that make up each individual’s genome. This investment, which Google disclosed in a regulatory filing on Thursday, brings Google’s total investment in the company to $6.5 million. Two years ago, Google invested $3.9 million in 23andMe.

Securities and Exchange Commission regulatory filing:

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 12, 2009

GOOGLE INC.
(Exact name of registrant as specified in its charter)

Item 8.01

In June 2009, Google Inc. invested approximately $2.6 million in the Series B preferred stock financing of 23andMe, Inc., a privately-held personal genetics company dedicated to helping individuals understand their own genetic information through DNA analysis technologies and web-based interactive tools. Google previously invested approximately $3.9 million in the Series A preferred stock financing of 23andMe in May 2007.

In November 2007, Google purchased additional shares of Series A preferred stock of 23andMe held by an investor in 23andMe’s Series A preferred stock financing for approximately $500,000. Google made this investment in the Series B preferred stock financing of 23andMe pursuant to Google’s existing right to purchase its pro rata share of new securities issued by 23andMe. Google continues to hold a minority interest in 23andMe as a result of the Series B investment. 23andMe’s Series B financing involved a number of additional investors including New Enterprise Associates.

Anne Wojcicki, who is a co-founder of 23andMe and who is also a stockholder and member of the board of directors, is married to Sergey Brin, Google’s President, Technology and one of its founders. Sergey also holds approximately 38% of Google’s Class B common stock. Prior to Google’s investment in 23andMe’s Series B preferred stock financing, Sergey also invested approximately $10 million in 23andMe’s convertible debt financing, which was converted into Series B preferred stock as part of this financing transaction.

In June 2009, Google also entered into a lease agreement with 23andMe. Google’s Audit Committee reviewed and approved the investment and lease transactions as part of Google’s procedures for entering into transactions with related parties. The valuation of the Series B investment was determined by negotiations between New Enterprise Associates and 23andMe in which Google played no role. The terms and conditions of the lease with 23andMe were reviewed by an independent real estate appraiser. As part of its decision-making process, the Audit Committee was advised by independent counsel.

This information shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth in the specific reference in such a filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GOOGLE INC.

Date: June 18, 2009
David C. Drummond
Senior Vice President, Corporate Development, Chief Legal Officer and Secretary

sergey-brin-anne-wojcicki-23andme-google

Google Buzz

Like this article!

Share this Post:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • email
  • FriendFeed
  • LinkedIn
  • MySpace
  • RSS
  • StumbleUpon
  • Technorati
  • Yahoo! Buzz
  • Identi.ca
  • PDF
  • Wikio
  • Mixx
  • Print
  • Propeller
  • SphereIt
  • Sphinn
  • Suggest to Techmeme via Twitter
  • Tipd

Get It Delivered To Your Inbox


Readers Rating:
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...
Popularity:
172,497 views
Leave a Comment:
add your comment
Tagged with: , , , , , , , , ,
blog comments powered by Disqus


Follow CEOWORLD Magazine

96357 RSS and 9500 Twitter Subscribers

Enter your email address:

Post a Job on CEOWORLD Magazine

Jobs on ceoworld

CEOWORLD Magazine on Facebook

Market summary



CEOWORLD News

EE Times Europe Launches New Website

EE Times Europe team unveiled its new website: http://www.electronics-eetimes.com/. Presenting a cleaner look, improved [...]

MySpace founders Chris DeWolfe, Colin Digiaro, and Aber Whitcomb to acquire MindJolt with Austin Ventures partnership

MySpace Founders Chris DeWolfe, Colin Digiaro, and Aber Whitcomb today announced a partnership with Austin Ventures, to [...]

General Motors Co. vice chairman, Bob Lutz set to retire

General Motors Co.’s (GM, news: 0.75 0.00 0.00%, cap: N/A, 1yr target: 0.00) vice chairman, Bob Lutz, will retire [...]

Greece Prime Minister George A. Papandreou on Twitter

Greece Prime Minister George A. Papandreou has a Twitter @PrimeministerGR account. Along with his Twitter account, the P [...]

Music streaming service Mog Gets Another $10 Million

MOG, A music streaming service with backing from both Universal Music Group and Sony Music, has raised $9.5 million in a [...]

Advertisement!

CEOWORLD Magazine

Poland Business Guide


cosmos yachting LLC

lucentbyte


Global business networking



An International Business and Online Marketplace offers B2B Leads & promoting B2B Products of Worldwide Importers & Exporters


Get Chitika Premium

Thank you!

Quick Links:     Journalist Association of Europe Member   ·   Careers   ·   Subscription   ·   CEOWORLD Exchange   ·   Contact Us   ·   Terms of Use   ·   About us   ·   Advertise