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Google Joins $250 Million Social Network Fund - sFund

Google joined the $250 Million sFund for investing in "small social networking startups" which was started by Kleiner Perkins Caufield & Byers (KPCB), a world leading venture capital firm last year.

Other notable members of this fund are Facebook, Amazon and Zyaga. Last year during the opening of the fund Google was not a leading social networking site. Google Wave was not able to make a place in the market and Google Buzz was also heading towards failure.

This year Google+ brought a vital change to this scenario and since its launch it has over 40 million users. And, now as an outcome of this huge success Google has decided to join hands with other social networking sites to make investment in hot startups.

Google also acquired sFund's very first exit Katango. This recent acquisition is Google's second in the social domain. Katango basically uses information from Facebook and creates friends circles having related interests and also backgrounds. This Katango program is perfect for Google+ Circles feature, the search engine giant had said while announcing the acquisition.

Google is on shopping spree this year and has already bought over 50 companies by investing $1.4 billion. This amount is excluding proposed acquisition of AdMeld and Motorola.