Google never intended to buy Ozy Media, CEO Sundar Pichai denies $600 million acquisition offer in fraud trial

Alphabet CEO Sundar Pichai testified in New York federal court on Friday to deny claims made by Ozzy Media co-founder Carlos Watson that Google had ever considered buying the now-disbanded media startup. Watson is currently on trial on fraud charges for misleading investors about Ozzy's financial performance and potential acquisition.

Watson boasted that he had received a favorable acquisition offer from Google, claiming that the search giant was willing to pay $600 million for Ozzie. But Pichai denied the allegations, saying that Google had considered hiring Watson as head of its news programming, but that an acquisition was never on the table. He clarified that the $25 million investment offer for Ozzie was contingent on Watson joining Google, but that the deal ultimately fell through.

The trial stems from a 2021 incident in which Ozzy's former COO, Samir Rao, posed as a YouTube executive on calls with bankers at Goldman Sachs and falsely praised Ozzy's relationship with YouTube to secure a $35 million investment. Rao later pleaded guilty to fraud charges, admitting that the scheme was orchestrated to mislead investors.

Goldman Sachs bankers who were on the call described the unpleasant experience, saying Rao's voice was “unnatural” and “didn't sound like a human voice.” The incident prompted Goldman Sachs to pull out of a potential investment.

Also testifying and pleading guilty to fraud was Susie Han, Ozzi's former chief of staff, who admitted to falsifying Ozzi's financial records and misleading investors about the company's performance, at Watson's direction.

The trial continues as prosecutors continue to build their case against Watson, who maintains his innocence.

Sources 1/ https://Google.com/ 2/ https://www.businesstoday.in/technology/news/story/google-never-intended-to-buy-ozy-media-ceo-sundar-pichai-testifies-at-fraud-trial-denying-600-million-offer-433444-2024-06-15 The mention sources can contact us to remove/changing this article

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