Former Google GV CEO, Bill Maris, in Talks to Raise $500 Million

Bill Maris

Bill Maris, who founded GV (Google Ventures) in 2009, recently stepped down to allegedly spend more time with his wife and son as well as consider new ideas. A recent report states that Maris is now in talks to raise $500 Million for his own fund. Confirmation of the reports is still pending.

Bill Maris was succeeded by David Krane, who had previously spent nearly 10 years as Google’s Director of Public Affairs and Global Communications. Today GV employs 70, almost all in the United States, with several partners in London and is exceptionally diversified including interests from the food industry to primary medical care.

Considering Bill Maris education in neuroscience, his interest run the gamut, but life sciences seem to intrigue him, meaning any new fund under his direction would have a broad range of interests involved.

PayU (Naspers) Announces Purchase of Citrus Pay

PayU

PayU, Naspers’ payment service provider, whose headquarters is in the Netherlands, announces the acquisition of Citrus Pay, the Indian payment gateway. Closing at $130 million (U.S.), it is one of the largest Merger and Acquisitions in the Indian internet arena and certainly in Indian financial tech history. To date, the largest M&A in India’s financial tech market was Snapdeal’s acquisition of Freecharge at $400 million in 2015.

PayU, in India, allows sites to present various payment opportunities – credit, debit, and internet banking – to its customers. In addition, the Reserve Bank of India had granted PayU a semi-closed wallet license, allowing users to link their wallets to their accounts and pay accepted sites. PayU also permits the use of multiple currencies.

Up until the acquisition, Citrus Pay was the competition, threatening PayU plan’s for the Indian market. With the merger, Citrus Pay’s CEO Amrish Rau, will become the head of PayU India, while Jitendra Gupta, co-founder will manage LazyPay, and Shailaz Nag, co-founder, will cultivate new bank alliances. Leaving the company is PayU co-founder, Nitin Gupta.
Sequoia Capital, Ascent Capital and Beenos Asia were investors in Citrus Pay’s raising of $32.5 million in three round of funding.