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CB Insights - Google Strategy Briefing PDF
CB Insights - Google Strategy Briefing PDF
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TABLE OF CONTENTS
9
Introduction
13
27
Acquisition Activity
34
38
Initiatives By Sector
43
Q&A
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INTRODUCTION
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REFRESHER ON
ALPHABETS STRUCTURE
Even within Google
proper, we are seeing an
emphasis on corralling
and centralizing related
businesses (e.g. Cloud
and Hardware).
Note: list is nonexhaustive and subject to
change.
Hardware
Access &
Energy
Infrastructure
Source: Alphabet
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10
89%
80%
76%
share of Google ad
revenue from
Google sites
cost-per-click (CPC)
vs. 2 years prior
70% in 2011
60% in 2006
Googles decade-plus
profit center remains
strong as ever thanks to
a successful push into
mobile.
Alphabet leadership is
keenly aware of the lack
of diversity in its
subsidiaries as it
searches for growth in
cloud & enterprise, AI,
hardware, and beyond.
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11
Source: Reuters
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12
INVESTMENTS:
GOOGLE, GV, AND GOOGLE CAPITAL
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13
Source: CB Insights
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14
GOOGLE DIRECT
INVESTMENTS
Google takes a handful
of direct positions, with
several mega-deals in
frontier areas such as
space transport and
satellite connective and
augmented reality.
Source: CB Insights
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15
Source: CB Insights
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16
GV HAS WITHDRAWN
FROM SEED MARKET
The decline in deal pace
coincides with GVs neartotal withdrawal from the
seed market, once its
bread-and-butter.
Over the past two years,
its seed activity has
fallen almost 85% on a
year-over-year basis, with
no new seed deals at all
in the first half of 2016.
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17
Source: Recode
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18
GV NOW PARTICIPATING
IN MUCH LARGER DEALS
GV was founded with a
$100M capital
commitment in 2009,
which has since swelled
to $500M annually.
As GV exits the seed
market and its resources
grow, it is participating in
larger financings.
Source: CB Insights
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19
GEOGRAPHIC FOCUS
REMAINS US-CENTRIC
The firm launched a
$125M fund in 2014
dedicated to Europe, with
5 partners to lead the
unit.
However, post-Alphabet
the fund was scrapped in
December 2015 and
absorbed back into the
global vehicle with GVs
rebranding.
Source: CB Insights
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20
etc.
Source: CB Insights
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21
MARIS LEAVES GV
WITH STRONG LEGACY,
UNCERTAIN FUTURE
Bill Maris departs with a
number of $1B+ exits
under his stewardship.
However, as much of
GVs strategy was tied to
its founder, it remains to
be seen how GVs
investment style and
philosophy will now
change under David
Krane.
Source: CB Insights
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22
CAPITAL TYPICALLY
COMMITS TO 1-3
DEALS PER QUARTER
The junior Google
investment arm has
generally maintained a
lower profile than G V
since its formation.
The investment arm has
typically participated in 13 deals per quarter, with
a noticeable spike in
Q315.
Source: CB Insights
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23
Source: CB Insights
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24
STRONG SYNDICATE OF
KNOWN TECH INVESTORS
The funds investment
syndicate reflects a
pattern of following and
co-investing with leading
Silicon Valley VCs, as
well as notable crossover
tech investors.
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25
Source: NY Times
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26
ACQUISITION ACTIVITY
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27
QUARTERLY
ACQUISITION ACTIVITY
Alphabet established
Source: CB Insights
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28
Robotics
acquisition spree
Boston Dynamics
robot video &
reports of sale
Source: CB Insights
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29
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30
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31
ENTERPRISE FOCUS
SHAPING CURRENT
ACQUISITION STRATEGY
Over the past year,
inbound acquisition
requests have come
most frequently from
Googles cloud &
enterprise unit.
This a lucrative, proven
sector where the
company has room to
catch up.
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32
ACQUISITIONS FOCUSED
ON VALUE-ADDED
SERVICES
According to Google CEO
Sundar Pichai, their
differentiation strategy
will involve value-added
services on top of
compute and storage
rather than competing on
sheer scale.
Many of its recent
acquisitions fall into its
category.
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33
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34
Source: CB Insights
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35
KEYWORD FREQUENCY
ANALYSIS HIGHLIGHTS
MOONSHOT INITIATIVES
Keyword data highlights
patent activity related to
bleeding-edge projects.
These include the Glass
eyewear device and other
wearable research.
Balloon also tops the
list in 2016 to date as
development of Project
Loon continues.
Source: CB Insights
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36
SELF-DRIVING CAR
PROJECT ACCELERATES
Rising frequency of
vehicle also reflects
Googles concerted
efforts in the self-driving
vehicle space, where it
has been expanding its
test fleet and searching
for automakers to
partner with.
Source: CB Insights
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37
INITIATIVES BY SECTOR
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38
AI BEING LEVERAGED
ACROSS ALPHABET
Graduated X projects like
Google Brain and a host
of acquisitions are being
utilized enhance
capabilities from search
to cloud and voice
assistance, and even
improve power efficiency.
Source: CB Insights
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39
TRANSPORT AND
LOGISTICS
Google Self-Driving Car
Project has faced some
employee attrition and
increasing competition,
but has made veteran
industry hires and
secured its first
partnership.
Other initiatives include
delivery drones (Project
Wing) and sameday/grocery delivery
(Google Express).
Source: CB Insights
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40
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41
Interested in more?
Our 7,000+ word teardown includes further insights
on acquisitions, investments, and sectors of interest.
CLICK HERE TO READ THE FULL TEARDOWN
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42
QUESTIONS
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43
CBINSIGHTS.COM
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