In a sign that the search engine may be coming to its senses about its stock buybacks, CEO David Marcus has told investors he will return $200 million to the stock buy back fund that he created to help with the costs of the massive search engine acquisition.
Marcus said in a note to investors Tuesday that he intends to invest $200m in the fund, which will fund the buyback and compensation of employees and suppliers.
“It’s about time to return some of that money back to our shareholders,” Marcus said in the note.
He also said the fund will not be used to fund compensation for any employees or suppliers, but instead will fund future stock buy backs.
The stock buy-back fund has already received more than $1 billion in funds.
Marcus told investors last month that the fund would likely reach $2 billion by the end of this year, and that the firm is confident it will achieve that goal.
But the firm still faces the challenge of funding the buybacks in the midst of a downturn in the tech industry.
The company, which launched in 2012 as a search engine competitor to Google and Bing, has struggled to retain and grow its user base.
In August, Google revealed it had closed about 5% of its remaining search engine search revenue for fiscal year 2018.
Last month, Google announced that it would take a $200 billion write-down on its investment in Alphabet, which owns the search giant, for the third time in the last four years.
Marcus told investors Tuesday he plans to keep his current investment in the Google stock buy list, which also includes shares in Facebook and Microsoft.
The stock market has struggled in recent months as investors worry about how to make up for a decline in Google search traffic, but it is not clear whether Marcus will be able to return all of the money he has put into the fund.
Marcus has long been critical of the stock market’s volatility, which he blamed on “the illusion of security,” according to the New York Times.
But last year, he also came under criticism for the company’s decision to merge with Amazon in 2013, which sparked a firestorm of criticism.
This deal has put a price on the head for Google and has had a ripple effect throughout the tech sector, and the company will likely have to spend money on retraining workers at the companies headquarters as it tries to re-create its search engine business.