When Google was founded in 1998 by now-billionaires Larry Page and Sergey Brin, little did they know that 20 years later the company would be sitting atop over 100 acquisitions, worth more than $22 billion in total. On Friday, Google paid $7.35 per share for wearable tech firm, Fitbit, at $2.1 billion.
Here are its other acquisitions from earlier this year.
In January, Google bought Superpod, a question-and-answer mobile app. The deal included “acqui-hiring” the founders and purchasing some of Superpod’s assets. Superpod, which lets users ask questions and receive answers from experts, could help Google bolster its virtual assistant, the Google Assistant. Ironically, the startup was founded by ex-Googlers William Li and Sophia Yang in 2016. The firm had raised an undisclosed amount of seed funding from Social Capital and Precursor Ventures amongst others. In September, Superpod shut down its app, as announced on their website.
Google declared its intent to acquire Alooma—a leader in data migration—for an undisclosed price in February. Alooma helps enterprise companies streamline database migration in the cloud with an innovative data pipeline tool that enables them to move their data from multiple sources to a single data warehouse. Alooma was particularly chosen to help Google in building additional migration capabilities within the Google Cloud Platform. Before the buy-out, Alooma raised about $11.2 million in a Series A round led by Lightspeed Venture Partners and Sequoia Capital in early 2016.
In June, Alphabet Inc’s Google bought Looker, a unified platform for business intelligence, data applications, and embedded analytics, for $2.6 billion in cash. This marked the first major acquisition for new Google Cloud CEO Thomas Kurian and the fourth-highest price paid by the search giant for an acquisition since buying Nest for $3.2 billion in 2014. The Californian firm was founded in 2012 and valued at $1.6 billion in a funding round last year. Alphabet’s private equity fund CapitalG previously invested in Looker.
A provider of scalable, enterprise file storage for the cloud, Elastifile, was added to Google’s portfolio of acquisitions in July. Elastifile, which was founded in 2014 by Amir Aharoni, Ronu Luxenburg, and Shahar Frank, had raised $74 million in venture capital before the acquisition. The combination of Elastifile and Google Cloud was planned to empower businesses to build industry-specific, high-performance applications.
As per a report, Facebook was also in talks to buy the fitness tracking firm before Google jumped the gun. By working closely with Fitbit’s team of experts, and bringing together the best AI, software, and hardware, Google is hoping to spur innovation in wearables and build products to benefit even more people globally. Fitbit owns 10% of the global wearables market, according to the International Data Corporation. The market leader is Xiaomi with 17.3% of market share in the second quarter of 2019, followed by Apple. In a statement, the search giant confirmed it will be transparent about the data it collects and will never sell personal information to anyone nor will it be used for Google ads.