Over the past two years Weatherbill has focused on agriculture, a large single market that it could target.

FORBES: Google Weather Investment - Partly Cloud

In 100 milliseconds Weatherbill crunches forecasts and 30 years of National Weather Service data for the user's location.

FORBES: Send in the Clouds

After adjusting--minutely--for climate change, Weatherbill names a price and acts as the underwriter.

FORBES: Send in the Clouds

Friedberg, 26, has an astrophysics degree from UC, Berkeley and left his job in business development at Google last summer to start Weatherbill.

FORBES: Send in the Clouds

Besides Ooyala, recent births include Twitter, a social- networking site founded by the people who made Google's blog service, and WeatherBill, a site that lets you hedge business risk against downpours.

FORBES: Close to the Vest

Friedberg, 26, has an astrophysics degree from UC, Berkeley and left his job in business development at Google (nasdaq: GOOG - news - people ) last summer to start Weatherbill.

FORBES: Send in the Clouds

Friedberg said Weatherbill could use data from microwave satellites to measure the density of clouds on a minute by minute basis, enabling it to build a long range model of rainfall around the world.

FORBES: Google Weather Investment - Partly Cloud

Friedberg's Web site, Weatherbill, sells insurance against unwanted temperature changes and rainfall at any of 200 cities in the U.S. It's primarily aimed at businesses such as golf courses, amusement parks or house-painting firms that lose out in foul conditions.

FORBES: Send in the Clouds

Weatherbill is an interesting business.

FORBES: Google Weather Investment - Partly Cloud