Google Does It Again: 5 Offbeat Investments From The Internet Search Giant

(RTTNews) - Google Inc. (GOOG, GOOGL) made headlines recently by contributing to a $1 billion investment in space exploration firm SpaceX. This sort of thing is nothing new for Google.

Though best known as an online search engine, the firm is considered one of the world's most innovative and inventive companies. One of the key drivers of its success has been a willingness to put money in off-beat places.

Here's a list of just a few recent investments Google has made in what might be considered strange places:

1. Modular Cell Phones

Google plans to launch a modular smartphone this year. The pilot program, to take place in Puerto Rico, would test a device that enables users to swap components, as against the practice of disposing of a phone for a new one. You can read more about it here.

2. Self-Driving Car

This is Google's most famous off-the-wall investment. While the project itself isn't new, the company recently unveiled a fully functioning prototype of their self-driving car.

3. Insurance

Though this has not been confirmed by the company, an analyst report has suggested that Google could launch a U.S. auto insurance website. This market would allow customers to compare and buy insurance policies, extending Google's influence into yet another market

4. Mobile Payments

Though the industry isn't particularly strange, it is a bit off the search/ad model that is Google's bread and butter. Reports recently surfaced that Google is in talks to acquire mobile-payments company Softcard. The deal would bring Google together with the largest U.S. wireless carriers to take on the Apple Pay service.

5. Renewable Energy

Google makes a big deal out of its investment in green technology. The company has made numerous investments in renewable power projects, including wind farms in Texas and solar facilities in California and Arizona.