Google Paid $380 Million for Diane Greene’s Startup

January 4, 2016, 10:41 PM UTC
Courtesy of Alphabet

Alphabet (GOOG), the parent company of Google, paid $380 million to acquire stealthy startup Bebop, according to a regulatory disclosure on Monday afternoon.

The acquisition was first announced in mid-November, minus the price tag.

Bebop was founded by Diane Greene, a co-founder and former CEO of VMware who has sat on Google’s board of directors since 2012. She had said very little publicly about the startup, although a 2014 trademark filing suggested that it was developing HR, benefits and training management software. Following the sale to Alphabet, Greene joined Google as the head of its newly-converged cloud software business.

According to the new disclosure, the entire $380 million is in equity, and Greene intends to donate $148.62 million of those proceeds “to a donor advised fund.” It appears that this represents her entire stake in Bebop. The startup had not publicly disclosed any of its investors, but Fortune has learned that they included venture capital firm Andreessen Horowitz.

Greene’s title is now senior vice president of Google’s enterprise business, which includes Google’s cloud computing efforts. The search giant plays a distant third in that market to Amazon’s Web Services and Microsoft’s Azure.

Some analysts have speculated that Greene could help Google create a new Alphabet company that will pursue cloud infrastructure. Given Greene’s background she has the technical expertise to build such a business. However, she faltered at VMware when the software company’s core hypervisors became commodified by open source competition and after Microsoft started offering its own hypervisors for free. There were also rumors of a troubled relationship with EMC’s chairman and CEO Joe Tucci.

Additional reporting by Stacey Higginbotham

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.

Read More

CryptocurrencyInvestingBanksReal Estate