The cotton candy maker who invented the first computer chip will get a $100 million payday in cash from a $1 billion investment from Google Ventures, the company announced today.
In a statement, Google Ventures said the company has “committed $1.5 billion in new capital for startups to scale up in the next five years.”
The investment was part of the company’s first round of funding since the start of the year, which has seen several new companies enter the market.
The $1 million will be used to hire more than 1,000 new employees, expand its operations, and fund new technology and services for its employees.
The announcement came on the same day that a $3 billion deal was announced to acquire Twitter.
Twitter has been under fire from investors for its handling of abuse accusations against its user base and CEO Jack Dorsey’s controversial “tweetstorm” ban.
The company has also been struggling to recover from the disruption caused by Dorsey and other executives.