Alphabet's Google Investing $100 Million in Telehealth Company Amwell During IPO
Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) Google Cloud unit is about to buy into the fast-growing telehealth segment with a $100 million investment into Class C shares of Amwell, a company that has filed to launch an initial public offering. The investment will be made at the same time as the IPO, and the number of shares Google Cloud receives will be in accordance with the IPO price.
Google Cloud and Amwell announced this in a joint press release Monday. They added that as part of the deal, the former would become the latter's "preferred global cloud platform partner." In practical terms, this means Amwell will shift some video performance capabilities to Google Cloud.
Image source: Getty Images.
Source Fool.com
