RealTime IT News

Google Gets Backing From Heavy Hitters

Upstart Internet search engine Google Inc. has attracted $25 million in venture-capital funding from two of Silicon Valley's most familiar names.

Sequoia Capital partner Michael Moritz and John Doerr of Kleiner Perkins Caufield & Byers are bringing in the $25 million to Google, according to a Wall Street Journal report. Both will also join the company's board of directors.

Moritz gained fame through investing early in Internet phenoms like Yahoo! Inc. and eToys Inc., and Doerr made his mark through early involvement with Amazon.com Inc.

The two venture capital firms will receive combined equity of nearly 40 percent for their efforts.

According to the Journal, Google's coupe is above and beyond the usual investment takings, even for an Internet company. Google plans to use the money to fund expansions.