Sep 25, 2018

Google's growing knack for cybersecurity investments

Photo: STR/AFP/Getty Image

Google Ventures has participated in London-based cybersecurity startup Snyk’s latest Series B $22 million investment round, with venture capital firm Accel leading the round.

The trend: The tech titan’s venture capital arm appears to have a knack for cybersecurity investments that lead to acquisition deals. In 2012 Google Ventures invested in Duo Security, a multi-factor security tool which Cisco announced this year it intends to acquire. More recently in 2016, Google Ventures invested in CoreOS, a container management system which was acquired by RedHat earlier this year.

The big picture: Google also has a cybersecurity company of its own, Chronicle, which was founded in 2016 and which is headed up by Stephen Gillett, formerly Symantec's COO. Chronicle offers cybersecurity software to Fortune 500 companies, including at least two services: a virus-scanning tool and a security analytics tool, per Inc.

Go deeper: Inside Google's venture capital "machine"

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Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.