The ABC has confirmed it is in the early stages of a new investment in a space exploration company that is being developed by Google.
“The company that we are developing is a company that could help us understand and predict the future of our planet,” Google chairman Eric Schmidt said on the first day of the Global Entrepreneurship Forum (GEF).
“There is a lot of money out there, but the question is, how much can you actually put in?”
I am going to be spending a lot more time in the next three months to develop the product and make it work and bring it to market, so that people will be able to buy it,” he said.
Google is the world leader in search engines, with around 90 per cent of internet searches being done by people who use Google.
It has launched a number of other companies, including search giant YouTube and Google Maps, but it has focused most of its energy on building out its search engine.
The event was held at the Hilton Midtown hotel in New York.
Google CEO Eric Schmidt.
In the wake of the recent financial collapse, the event was billed as a “new way to connect with investors”.
The first two speakers were Mr Schmidt, who was in the audience, and Michael Eris, who is also an investor at Google Ventures.”
Google is looking at what we are doing with Google Ventures,” Mr Eris said.”
What we are really interested in is the future.
“We have a bunch of things we can do together.
We could really help build this business, and it is a great opportunity.”
The other speakers at the event were Mark Cuban, co-founder of the Cuban company GATP, and Eric Schmidt, Google’s co-chairman.
The GEF is an annual gathering of venture capitalists and business leaders in New Zealand.
Mr Schmidt has been a speaker at it since 2010, and has also been a member of the executive board.
It is not the first time Google has tried to invest in a venture.
The company had an investment in an artificial intelligence company called Googles Vision back in 2014, but that was followed by a series of acquisitions that culminated in Google buying the artificial intelligence firm Waymo in 2018.
Google had previously been interested in building out a data analytics business.
Mr Eissel says that the Google Ventures funding is “something we have been talking about for a long time”.
The company is currently working on a series, “Building the Future”, that will cover the issues that will impact our lives over the next 20 years.
We can’t wait to share it with you!
– Eric Schmidt to the crowdSource: ABC News | Powered by The Business Daily