Google Capital, a venture capital fund financed by Alphabet Inc. , bought a stake in Care.com Inc. for $46.35 million to become its biggest shareholder, the company said in a statement late Wednesday. Care.com issued convertible preferred shares to Google Capital at an initial conversion price of $10.50 a share, which represents roughly a 20% premium to the stock’s closing price of $8.13 on June 27. Shares of Care.com soared 12% after hours.
Care.com is an online marketplace for managing family care.
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