Drummond, a Google Ventures executive, left Uber in 2016.
This move was significant, as Google Ventures had invested in Uber in 2013, with a $258 million Series E funding round.
The departure of Drummond from Uber was not a surprise, considering the intense competition and controversy surrounding the company at the time.
Google Exec Leaves Uber
Google's Eric Schmidt invested $250 million in Uber in 2013, and in return, Uber's board added a Google representative.
This was a significant move, as it marked the beginning of a close relationship between the two companies.
Google's investment in Uber was made through its venture capital arm, Google Ventures.
Frequently Asked Questions
What is David Drummond doing now?
David Drummond, former chief legal officer of Alphabet, has acquired two wineries: Idlewild Wines and Armida Winery. He is now involved in the wine industry as a winery owner.
Is Google Ventures owned by Google?
Google Ventures is owned by Alphabet, Inc., the parent company of Google. It serves as the venture capital arm of Google.
How much did Google Ventures make on Uber?
Google Ventures' $258 million investment in Uber multiplied by 20-fold, resulting in a $5 billion return. This represents a significant profit for Alphabet, Google's parent company.
Sources
- https://en.wikipedia.org/wiki/David_Drummond_(businessman)
- https://www.businessinsider.com/google-alphabet-chief-legal-david-drummond-career-rise-controversy-explained-2019-8
- https://www.cnbc.com/2020/01/10/alphabets-legal-chief-is-leaving-the-company.html
- https://www.theverge.com/2016/8/29/12701406/uber-google-david-drummond-board-of-directors-resign
- https://9to5google.com/2020/01/10/david-drummond-alphabet-retiring/
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