NEW YORK (TheStreet) -- Google's (GOOG) investment division, Google Capital, made its second major investment this month, providing $85 million to startup credit and finance website Credit Karma.
The San Francisco based company offers free credit reports to customers and has a consumer base of about 20 million. The website presents targeted advertisements to customers based on those credit reports.
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Google also invested $50 million in real estate website Auction.com last week. That website connects buyers and sellers in the real estate market and has sold $26 billion in property since its inception. In exchange for the investment a representative from Google Capital receiveda seat on the company's board of directors Auction.com has been valued at $1.2 billion.
With this latest investment, Credit Karma has raised $118 million since its founding in 2008. The company plans on using the money to more than double its workforce before unveiling its latest product in a couple of months.
Google Capital plans to invest $300 million by the end of the year
TheStreet Ratings team rates GOOGLE INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOOGLE INC (GOOG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."