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Google Invests $50 Million in Online Property Broker Auction.com

Google Inc.’s new investment arm is buying a minority stake in Auction.com LLC, the largest U.S. online real estate auction firm, for $50 million.

The investment by Google Capital, which expects to spend about $300 million this year to back late-stage companies, is the first in a real estate venture for the unit of the Mountain View, California-based Internet search firm. The deal values Auction.com at $1.2 billion, the Irvine, California-based company said today in a statement.