At the beginning of February, Google released its 2015 financial report. The annual revenue increased from 66.01 billion US dollars in 2014 to more than the expected 74.789 billion US dollars. The company's market value once surpassed Apple and ranked first in the world.
In 2015, Google reorganized and created a new “mother†for itself: the parent company, Alphabet, was established to separate the core Internet business from innovative businesses such as driverless cars, smart homes and healthcare . This year is the first time that Alphabet will announce the revenue, operating profit and capital expenditures of these two businesses, and provide historical data back to 2013. As everyone knows, Google’s interest in medical and biotechnology has been around for a long time. In this 127-page 10-K (US listed company annual report) document, we may wish to look at Google's disclosure of investments in the health sector.
Google's medical technology investment overview: still losing home
As can be seen from the figures in the earnings report, the biggest revenue of Alphabet still comes from Google's core businesses, such as search, Android and YouTube. In the financial report, investment in medical technology has been classified by Alphabet into the “Other Bets†category, mainly in the three departments of Google Ventures (GV), Verily and Calico. Google's other investment categories include Fiber (Google Fiber), Smart Home Nest, and Google X Labs, which are cutting-edge projects such as driverless cars.
It is not difficult to see from the financial report that these so-called "other investments" have unswervingly fulfilled the role of "failed home": total revenue of 448 million US dollars in 2015, a total loss of 3.6 billion US dollars. In 2014, these projects generated revenues of $327 million and a loss of $1.9 billion. As a result, the income of Other Bets increased by 27% in 2015, but the loss increased by 83.7%, almost doubling. Considering that considerable income is contributed by the smart home Nest, which has already been commercialized, the return on investment in the field of medical biology is still poor.
GV: Medical investment, I am not bad money
In 2009, when Google decided to create Google Ventures (GV), it was "planting trees" for Google's future. Among the saplings planted by Google, the largest number is in the field of medical technology.
Bill Maris is the founder of GV, and Maris' interest in investing in the health sector began in college. His own major is neurology. After graduation, he worked as an investment manager in biomedical applications at Investor AB in Sweden. In 2009, he participated in the founding of GV.
The GV’s decision makers have at least $2.4 billion in hand to “squanderâ€. GV's past investments in high-tech fields are already well known, and now they want their companies to become bigger players in healthcare and biotechnology.
Maris said that one-third of GV's investment in 2015 is in the health sector. Since 2014, the health field has become the largest investment area for GV, surpassing the booming industries of consumer goods, big data and artificial intelligence, robots, etc. in recent years. In 2013, only 6% of GV's investment quota went to the health care sector. In 2014, this figure was 34%. In 2015, this ratio was 31%. According to Bloomberg News, Maris also plans to expand GV's investor base in the healthcare industry.
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