Google made an initial investment of $3.9 million in 23andme some time ago. Considering that Google’s in the business of search and advertising, and that 23andme tests people’s spit for diseases (or more accurately, genetic predispositions to disease), this crossover raised a few eyebrows.
The situation looked even iffier once people learned that “[t]he funds from Google’s first investment in the biotech group were used in part to repay a loan of approximately $2.6 million that Brin had earlier provided to 23andMe.”
But anyway, the SEC document makes Wojcicki’s and Brin’s relationship clear, and points out that Brin put in a lot more money - $10 million - this time around. The filing also states, “Google continues to hold a minority interest in 23andMe as a result of the Series B investment,” so it seems that no under-the-table-takeover has occurred.
Google’s investors appear to be perfectly okay with the move, as well, since the search giant’s stock rose by 1.46 percent today.
Nothing was said about where the two companies might go from here.
Tags: 23andme, Google Invest, Google's investors, SEC filing
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