ChiNext is a NASDAQ -style subsidiary of the Shenzhen Stock Exchange . The first batch of firms started trading on ChiNext on October 30, 2009.
93-691: ChiNext aims to attract innovative and fast-growing enterprises, especially high-tech firms. Its listing standards are less stringent than those of the Main and SME Boards of the Shenzhen Stock Exchange. The initial proposal to establish a stock exchange for high-tech firms in China came in August 1999, which was a time when internet stocks were highly popular in the US. However, the plans were shelved for
186-436: A general glut in the job market. University enrollment for computer-related degrees dropped noticeably. Aeron chairs , which retailed for $ 1,100 each, were liquidated en masse. As growth in the technology sector stabilized, companies consolidated; some, such as Amazon.com , eBay , Nvidia and Google gained market share and came to dominate their respective fields. The most valuable public companies are now generally in
279-516: A public company via an initial public offering, listing the company on the Nasdaq Global Select Market under the ticker symbol GOOG. At that time Page, Brin and Schmidt agreed to work together at Google for 20 years, until the year 2024. The company offered 19,605,052 shares at a price of $ 85 per share. Shares were sold in an online auction format using a system built by Morgan Stanley and Credit Suisse , underwriters for
372-517: A $ 250,000 investment. Google received money from two other angel investors in 1998: Amazon.com founder Jeff Bezos , and entrepreneur Ram Shriram . Page and Brin had first approached Shriram, who was a venture capitalist, for funding and counsel, and Shriram invested $ 250,000 in Google in February 1998. Shriram knew Bezos because Amazon had acquired Junglee, at which Shriram was the president. It
465-497: A chief executive officer, which had been made verbally during investment negotiations. Eric was not initially enthusiastic about joining Google either, as the company's full potential had not yet been widely recognized at the time, and as he was occupied with his responsibilities at Novell where he was CEO. As part of him joining, Eric agreed to buy $ 1 million of Google preferred stocks as a way to show his commitment and to provide funds Google needed. On August 19, 2004, Google became
558-456: A citation to Li's earlier RankDex patent; Li later went on to create the Chinese search engine Baidu . Eventually, they changed the name to Google ; the name of the search engine was a misspelling of the word googol , a very large number written 10 (1 followed by 100 zeros), picked to signify that the search engine was intended to provide large quantities of information. Google
651-697: A great deal of overcapacity as many Internet business clients went bust. That, plus ongoing investment in local cell infrastructure kept connectivity charges low, and helped to make high-speed Internet connectivity more affordable. During this time, a handful of companies found success developing business models that helped make the World Wide Web a more compelling experience. These include airline booking sites, Google 's search engine and its profitable approach to keyword-based advertising, as well as eBay 's auction site and Amazon.com 's online department store. The low price of reaching millions worldwide, and
744-461: A larger percentage of control over the company to themselves. Larry and Sergey however insisted on taking investments from both. Both venture companies finally agreed to investing jointly $ 12.5 million each due to their belief in Google's great potential and through the mediation of earlier angel investors Ron Conway and Ram Shriram who had contacts in the venture companies. In March 1999, the company moved its offices to Palo Alto, California , which
837-667: A long time, potentially due to the burst of the dot-com bubble in 2000 and the lost confidence in internet and technology stocks. ChiNext was finally inaugurated in Shenzhen on 23 October 2009. The shares of the first batch of 28 firms made their debut on ChiNext on October 30, 2009, with a Total Market Cap value of nearly 11 billion RMB and a Total Negotiable Cap. Value of 7.8 billion RMB. Trading in each of these stocks had to be temporarily suspended on this day due to their prices reaching change limits. The second batch contained eight firms whose shares started trading on December 25, 2009. At
930-481: A meeting with Page and Brin and his Granite co-founder Andy Bechtolsheim. The meeting was set for 8 a.m. at the front porch of David's home in Palo Alto and it had to be brief because Andy had another meeting at Cisco, where he now worked after the acquisition, at 9 a.m. Andy briefly tested a demo of the website, liked what he saw, and then went back to his car to grab the check. David Cheriton later also joined in with
1023-428: A memo throughout the company that argued bias and " Google's Ideological Echo Chamber " clouded their thinking about diversity and inclusion, and that it is also biological factors, not discrimination alone, that cause the average woman to be less interested than men in technical positions. Google CEO Sundar Pichai accused Damore of violating company policy by "advancing harmful gender stereotypes in our workplace", and he
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#17327811663771116-410: A monopoly on the market harming publishers, advertisers, and consumers. In 2022, Google began accepting requests for the removal of phone numbers, physical addresses and email addresses from its search results. It had previously accepted requests for removing confidential data only, such as Social Security numbers, bank account and credit card numbers, personal signatures, and medical records. Even with
1209-421: A much-hyped company that had backing from Amazon.com, went out of business only nine months after completing its IPO. By that time, most Internet stocks had declined in value by 75% from their highs, wiping out $ 1.755 trillion in value. In January 2001, just three dot-com companies bought advertising spots during Super Bowl XXXV . The September 11 attacks accelerated the stock-market drop. Investor confidence
1302-1093: A multitude of products and services beyond Google Search , many of which hold dominant market positions. These products address a wide range of use cases, including email ( Gmail ), navigation and mapping ( Waze , Maps and Earth ), cloud computing ( Cloud ), web navigation ( Chrome ), video sharing ( YouTube ), productivity ( Workspace ), operating systems ( Android ), cloud storage ( Drive ), language translation ( Translate ), photo storage ( Photos ), videotelephony ( Meet ), smart home ( Nest ), smartphones ( Pixel ), wearable technology ( Pixel Watch and Fitbit ), music streaming ( YouTube Music ), video on demand ( YouTube TV ), AI ( Google Assistant and Gemini ), machine learning APIs ( TensorFlow ), AI chips ( TPU ), and more. Discontinued Google products include gaming ( Stadia ), Glass , Google+ , Reader , Play Music , Nexus , Hangouts , and Inbox by Gmail . Google's other ventures outside of internet services and consumer electronics include quantum computing ( Sycamore ), self-driving cars ( Waymo , formerly
1395-910: A price–earnings ratio of 200, dwarfing the peak price–earnings ratio of 80 for the Japanese Nikkei 225 during the Japanese asset price bubble of 1991. In 1999, shares of Qualcomm rose in value by 2,619%, 12 other large-cap stocks each rose over 1,000% in value, and seven additional large-cap stocks each rose over 900% in value. Even though the Nasdaq Composite rose 85.6% and the S&;P 500 rose 19.5% in 1999, more stocks fell in value than rose in value as investors sold stocks in slower growing companies to invest in Internet stocks. An unprecedented amount of personal investing occurred during
1488-478: A profit. But despite this, the Internet continued to grow, driven by commerce, ever greater amounts of online information, knowledge, social networking and access by mobile devices. The 1993 release of Mosaic and subsequent web browsers during the following years gave computer users access to the World Wide Web , popularizing use of the Internet. Internet use increased as a result of the reduction of
1581-480: A research project by Larry Page and Sergey Brin while they were both PhD students at Stanford University in California. The project initially involved an unofficial "third founder", Scott Hassan , the original lead programmer who wrote much of the code for the original Google Search engine, but he left before Google was officially founded as a company; Hassan went on to pursue a career in robotics and founded
1674-493: A revenue restatement due to aggressive accounting practices. Its stock price, which had risen from $ 7 per share to as high as $ 333 per share in a year, fell $ 140 per share, or 62%, in a day. The next day, the Federal Reserve raised interest rates, leading to an inverted yield curve , although stocks rallied temporarily. Tangentially to all of speculation, Judge Thomas Penfield Jackson issued his conclusions of law in
1767-574: A service which searches the text found in books in its database and shows limited previews or and the full book where allowed. Google expanded its search services to include shopping (launched originally as Froogle in 2002), finance (launched 2006), and flights (launched 2011). Google generates most of its revenues from advertising. This includes sales of apps, purchases made in-app, digital content products on Google and YouTube, Android and licensing and service fees, including fees received for Google Cloud offerings. Forty-six percent of this profit
1860-1034: A third in December affecting the entire suite of Google applications. All three outages were resolved within hours. In 2021, the Alphabet Workers Union was founded, composed mostly of Google employees. In January 2021, the Australian Government proposed legislation that would require Google and Facebook to pay media companies for the right to use their content. In response, Google threatened to close off access to its search engine in Australia. In March 2021, Google reportedly paid $ 20 million for Ubisoft ports on Google Stadia. Google spent "tens of millions of dollars" on getting major publishers such as Ubisoft and Take-Two to bring some of their biggest games to Stadia. In April 2021, The Wall Street Journal reported that Google ran
1953-448: A widely read article that stated: "It's time, at last, to pay attention to the numbers". On Friday, April 14, 2000, the Nasdaq Composite index fell 9%, ending a week in which it fell 25%. Investors were forced to sell stocks ahead of Tax Day , the due date to pay taxes on gains realized in the previous year. By June 2000, dot-com companies were forced to reevaluate their spending on advertising campaigns. On November 9, 2000, Pets.com ,
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#17327811663772046-459: A years-long program called "Project Bernanke" that used data from past advertising bids to gain an advantage over competing for ad services. This was revealed in documents concerning the antitrust lawsuit filed by ten US states against Google in December. In September 2021, the Australian government announced plans to curb Google's capability to sell targeted ads, claiming that the company has
2139-471: Is an American-based multinational corporation and technology company focusing on online advertising , search engine technology, cloud computing , computer software , quantum computing , e-commerce , consumer electronics , and artificial intelligence (AI). It has been referred to as "the most powerful company in the world" and is one of the world's most valuable brands due to its market dominance , data collection , and technological advantages in
2232-432: Is home to several prominent Silicon Valley technology start-ups. The next year, Google began selling advertisements associated with search keywords against Page and Brin's initial opposition toward an advertising-funded search engine. To maintain an uncluttered page design, advertisements were solely text-based. In June 2000, it was announced that Google would become the default search engine provider for Yahoo! , one of
2325-576: Is what allowed them to open up their original shop in Menlo Park, California . Craig Silverstein , a fellow PhD student at Stanford, was hired as the first employee. After some additional, small investments through the end of 1998 to early 1999, a new $ 25 million round of funding was announced on June 7, 1999, with major investors including the venture capital firms Kleiner Perkins and Sequoia Capital . Both firms were initially reticent about investing jointly in Google, as each wanted to retain
2418-729: The Dulles Technology Corridor in Virginia, governments funded technology infrastructure and created favorable business and tax law to encourage companies to expand. The growth in capacity vastly outstripped the growth in demand. Spectrum auctions for 3G in the United Kingdom in April 2000, led by Chancellor of the Exchequer Gordon Brown , raised £22.5 billion. In Germany, in August 2000,
2511-579: The EU Court of Justice , based in Europe, would also find that Google held an illegal monopoly, in this case with regards to its shopping search, and could not avoid paying a €2.4 billion fine. The EU Court of Justice found that Google's treatment of rival shopping searches, which the court referred to as "discriminatory", was in violation of the Digital Markets Act . In October 2024, Google
2604-628: The Google Self-Driving Car Project ), smart cities ( Sidewalk Labs ), and transformer models ( Google DeepMind ). Google Search and YouTube are the two most-visited websites worldwide followed by Facebook and X (formerly known as Twitter). Google is also the largest search engine , mapping and navigation application , email provider , office suite , online video platform , photo and cloud storage provider, mobile operating system , web browser , machine learning framework, and AI virtual assistant provider in
2697-410: The exposé , "How Google Protected Andy Rubin , the 'Father of Android'". The company subsequently announced that "48 employees have been fired over the last two years" for sexual misconduct. On November 1, 2018, more than 20,000 Google employees and contractors staged a global walk-out to protest the company's handling of sexual harassment complaints. CEO Sundar Pichai was reported to be in support of
2790-400: The quaternary sector of the economy and confidence that the companies would turn future profits created an environment in which many investors were willing to overlook traditional metrics, such as the price–earnings ratio , and base confidence on technological advancements, leading to a stock market bubble . Between 1995 and 2000, the Nasdaq Composite stock market index rose 400%. It reached
2883-541: The " digital divide " and advances in connectivity, uses of the Internet, and computer education. Between 1990 and 1997, the percentage of households in the United States owning computers increased from 15% to 35% as computer ownership progressed from a luxury to a necessity. This marked the shift to the Information Age , an economy based on information technology , and many new companies were founded. At
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2976-602: The AI race, Google's senior management issued a "code red" and a "directive that all of its most important products—those with more than a billion users—must incorporate generative AI within months". In early May 2023, Google announced its plans to build two additional data centers in Ohio. These centers, which will be built in Columbus and Lancaster, will power up the company's tools, including AI technology. The said data hub will add to
3069-427: The Federal Reserve , raised interest rates several times; these actions were believed by many to have caused the bursting of the dot-com bubble. According to Paul Krugman , however, "he didn't raise interest rates to curb the market's enthusiasm; he didn't even seek to impose margin requirements on stock market investors. Instead, [it is alleged] he waited until the bubble burst, as it did in 2000, then tried to clean up
3162-408: The Google content network, through a cost-per-click scheme. The sister service, Google AdSense, allows website owners to display these advertisements on their website and earn money every time ads are clicked. One of the criticisms of this program is the possibility of click fraud , which occurs when a person or automated script clicks on advertisements without being interested in the product, causing
3255-507: The Nasdaq fell 2.6%, but the S&P 500 rose 2.4% as investors shifted from strong performing technology stocks to poor performing established stocks. On March 20, 2000, Barron's featured a cover article titled "Burning Up; Warning: Internet companies are running out of cash—fast", which predicted the imminent bankruptcy of many Internet companies. This led many people to rethink their investments. That same day, MicroStrategy announced
3348-484: The Web to be a useful and profitable additional channel for content distribution, and an additional means to generate advertising revenue. The sites that survived and eventually prospered after the bubble burst had two things in common: a sound business plan, and a niche in the marketplace that was, if not unique, particularly well-defined and well-served. In the aftermath of the dot-com bubble, telecommunications companies had
3441-524: The advertiser to pay money to Google unduly. Industry reports in 2006 claimed that approximately 14 to 20 percent of clicks were fraudulent or invalid. Google Search Console (rebranded from Google Webmaster Tools in May 2015) allows webmasters to check the sitemap, crawl rate, and for security issues of their websites, as well as optimize their website's visibility. Google had previously used virtual assistants and chatbots , such as Google Bard, prior to
3534-466: The already operational center near Columbus, bringing Google's total investment in Ohio to over $ 2 billion. In August 2024, Google would lose a lawsuit which started in 2020 in lower court, as it was found that the company had an illegal monopoly over Internet search. D.C. Circuit Court Judge Amit Mehta held that this monopoly was in violation of Section 2 of the Sherman Act . In September 2024,
3627-454: The auctions raised £30 billion. A 3G spectrum auction in the United States in 1999 had to be re-run when the winners defaulted on their bids of $ 4 billion. The re-auction netted 10% of the original sales prices. When financing became hard to find as the bubble burst, the high debt ratios of these companies led to bankruptcy . Bond investors recovered just over 20% of their investments. However, several telecom executives sold stock before
3720-511: The boom and stories of people quitting their jobs to trade on the financial market were common. The news media took advantage of the public's desire to invest in the stock market; an article in The Wall Street Journal suggested that investors "re-think" the "quaint idea" of profits, and CNBC reported on the stock market with the same level of suspense as many networks provided to the broadcasting of sports events . At
3813-532: The bubble. During the dot-com crash , many online shopping companies, notably Pets.com , Webvan , and Boo.com , as well as several communication companies, such as Worldcom , NorthPoint Communications , and Global Crossing , failed and shut down. Others, like Lastminute.com , MP3.com and PeopleSound remained through its sale and buyers acquisition. Larger companies like Amazon and Cisco Systems lost large portions of their market capitalization, with Cisco losing 80% of its stock value. Historically,
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3906-514: The building of the railroads or the automobile or aerospace industry or whatever. And in this case, much of the capital invested was lost, but also much of it was invested in a very high throughput backbone for the Internet, and lots of software that works, and databases and server structure. All that stuff has allowed what we have today, which has changed all our lives... that's what all this speculative mania built. Google Google LLC ( / ˈ ɡ uː ɡ əl / GOO -gəl )
3999-535: The case of United States v. Microsoft Corp. (2001) and ruled that Microsoft was guilty of monopolization and tying in violation of the Sherman Antitrust Act . This led to a one-day 15% decline in the value of shares in Microsoft and a 350-point, or 8%, drop in the value of the Nasdaq. Many people saw the legal actions as bad for technology in general. That same day, Bloomberg News published
4092-497: The code to implement Page's ideas. Page and Brin would also use their friend Susan Wojcicki 's garage as their office when the search engine was set up in 1998. Page and Brin originally nicknamed the new search engine "BackRub", because the system checked backlinks to estimate the importance of a site. Hassan as well as Alan Steremberg were cited by Page and Brin as being critical to the development of Google. Rajeev Motwani and Terry Winograd later co-authored with Page and Brin
4185-466: The company Willow Garage in 2006. While conventional search engines ranked results by counting how many times the search terms appeared on the page, they theorized about a better system that analyzed the relationships among websites. They called this algorithm PageRank ; it determined a website's relevance by the number of pages, and the importance of those pages that linked back to the original site. Page told his ideas to Hassan, who began writing
4278-455: The company was purchased for $ 400 million, yet the source of the information was not disclosed. A Google spokesperson declined to comment on the price. The purchase of DeepMind aids in Google's recent growth in the artificial intelligence and robotics community. In 2015, DeepMind's AlphaGo became the first computer program to defeat a top human pro at the game of Go. According to Interbrand's annual Best Global Brands report, Google has been
4371-523: The crash including Philip Anschutz , who reaped $ 1.9 billion, Joseph Nacchio , who reaped $ 248 million, and Gary Winnick , who sold $ 748 million worth of shares. Nearing the turn of the 2000s, spending on technology was volatile as companies prepared for the Year 2000 problem . There were concerns that computer systems would have trouble changing their clock and calendar systems from 1999 to 2000 which might trigger wider social or economic problems, but there
4464-744: The crash; 48% of dot-com companies survived through 2004, albeit at lower valuations. Several companies and their executives, including Bernard Ebbers , Jeffrey Skilling , and Kenneth Lay , were accused or convicted of fraud for misusing shareholders' money, and the U.S. Securities and Exchange Commission levied large fines against investment firms including Citigroup and Merrill Lynch for misleading investors. After suffering losses, retail investors transitioned their investment portfolios to more cautious positions. Popular Internet forums that focused on high tech stocks, such as Silicon Investor , Yahoo! Finance , and The Motley Fool declined in use significantly. Layoffs of programmers resulted in
4557-533: The deal. The sale of $ 1.67 billion gave Google a market capitalization of more than $ 23 billion. On November 13, 2006, Google acquired YouTube for $ 1.65 billion in Google stock, On July 20, 2007, Google bids $ 4.6 billion for the wireless-spectrum auction by the FCC. On March 11, 2008, Google acquired DoubleClick for $ 3.1 billion, transferring to Google valuable relationships that DoubleClick had with Web publishers and advertising agencies. By 2011, Google
4650-482: The decision of CSRC to reopen the IPO market. In May 2014, CSRC announced a change in rules that eased profitability requirements for firms seeking a listing on ChiNext. As of June 2014, the total market cap. value of all companies was 95 billion RMB and the negotiable cap. value was almost 59 billion RMB. Dot-com bubble The dot-com bubble (or dot-com boom ) was a stock market bubble that ballooned during
4743-419: The development of micro-optics, monolithic integration, and system integration. In December 2022, Google debuted OSV-Scanner, a Go tool for finding security holes in open source software , which pulls from the largest open source vulnerability database of its kind to defend against supply chain attacks. In early 2023, following the success of ChatGPT and concerns that Google was falling behind in
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#17327811663774836-444: The dot-com boom can be seen as similar to a number of other technology-inspired booms of the past, including railroads in the 1840s, automobiles in the early 20th century, radio in the 1920s, television in the 1940s, transistor electronics in the 1950s, computer time-sharing in the 1960s, and home computers and biotechnology in the 1980s. Low interest rates in 1998–99 facilitated an increase in start-up companies. In 2000,
4929-642: The dot-com bubble burst, and many dot-com startups went out of business after burning through their venture capital and failing to become profitable . However, many others, particularly online retailers like eBay and Amazon , blossomed and became highly profitable. More conventional retailers found online merchandising to be a profitable additional source of revenue. While some online entertainment and news outlets failed when their seed capital ran out, others persisted and eventually became economically self-sufficient. Traditional media outlets (newspaper publishers, broadcasters and cablecasters in particular) also found
5022-446: The end of 2009 there were 36 firms listed on ChiNext. In 2010, a further 117 firms went public, increasing the total number of listed firms to 153. 128 and 74 firms went public in 2011 and 2012 respectively. As a result, there were 355 firms listed by the end of 2012. The IPO market was closed in China throughout 2013. Therefore, no new listings took place on ChiNext during that year. In January 2014, there were 24 new listings following
5115-616: The field of AI. Google's parent company, Alphabet Inc. , is one of the five Big Tech companies, alongside Amazon , Apple , Meta , and Microsoft . Google was founded on September 4, 1998, by American computer scientists Larry Page and Sergey Brin while they were PhD students at Stanford University in California . Together, they own about 14% of its publicly listed shares and control 56% of its stockholder voting power through super-voting stock . The company went public via an initial public offering (IPO) in 2004. In 2015, Google
5208-451: The first paper about the project, describing PageRank and the initial prototype of the Google search engine, published in 1998. Héctor García-Molina and Jeffrey Ullman were also cited as contributors to the project. PageRank was influenced by a similar page-ranking and site-scoring algorithm earlier used for RankDex , developed by Robin Li in 1996, with Larry Page's PageRank patent including
5301-476: The grounds the company had abused a monopoly position in the search and search advertising markets. In December 2019, former PayPal chief operating officer Bill Ready became Google's new commerce chief. Ready's role will not be directly involved with Google Pay . In April 2020, due to the COVID-19 pandemic , Google announced several cost-cutting measures. Such measures included slowing down hiring for
5394-670: The height of the boom, it was possible for a promising dot-com company to become a public company via an IPO and raise a substantial amount of money even if it had never made a profit—or, in some cases, realized any material revenue or even have a finished product. People who received employee stock options became instant paper millionaires when their companies executed IPOs; however, most employees were barred from selling shares immediately due to lock-up periods . The most successful entrepreneurs, such as Mark Cuban , sold their shares or entered into hedges to protect their gains. Sir John Templeton successfully shorted many dot-com stocks at
5487-678: The information they desire through the use of keywords and operators . According to comScore market research from November 2009, Google Search is the dominant search engine in the United States market, with a market share of 65.6%. In May 2017, Google enabled a new "Personal" tab in Google Search, letting users search for content in their Google accounts' various services, including email messages from Gmail and photos from Google Photos. Google launched its Google News service in 2002, an automated service which summarizes news articles from various websites. Google also hosts Google Books ,
5580-634: The late-1990s and peaked on Friday, March 10, 2000. This period of market growth coincided with the widespread adoption of the World Wide Web and the Internet , resulting in a dispensation of available venture capital and the rapid growth of valuations in new dot-com startups . Between 1995 and its peak in March 2000, investments in the NASDAQ composite stock market index rose by 800%, only to fall 78% from its peak by October 2002, giving up all its gains during
5673-481: The launch of a new company, called Calico , on September 19, 2013, to be led by Apple Inc. chairman Arthur Levinson . In the official public statement, Page explained that the "health and well-being" company would focus on "the challenge of ageing and associated diseases". On January 26, 2014, Google announced it had agreed to acquire DeepMind Technologies , a privately held artificial intelligence company from London . Technology news website Recode reported that
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#17327811663775766-497: The launch of a new product or website, a company would organize an expensive event called a dot-com party . In the five years after the American Telecommunications Act of 1996 went into effect, telecommunications equipment companies invested more than $ 500 billion, mostly financed with debt, into laying fiber optic cable, adding new switches, and building wireless networks. In many areas, such as
5859-481: The mess afterward". Finance author and commentator E. Ray Canterbery agreed with Krugman's criticism. On Friday March 10, 2000, the NASDAQ Composite stock market index peaked at 5,048.62. However, on March 13, 2000, news that Japan had once again entered a recession triggered a global sell off that disproportionately affected technology stocks. Soon after, Yahoo! and eBay ended merger talks and
5952-573: The most popular websites at the time, replacing Inktomi . In 2003, after outgrowing two other locations, the company leased an office complex from Silicon Graphics , at 1600 Amphitheatre Parkway in Mountain View, California . The complex became known as the Googleplex , a play on the word googolplex , the number one followed by a googol of zeroes. Three years later, Google bought the property from SGI for $ 319 million. By that time,
6045-468: The mottos "get big fast" and "get large or get lost". These companies offered their services or products for free or at a discount with the expectation that they could build enough brand awareness to charge profitable rates for their services in the future. The "growth over profits" mentality and the aura of " new economy " invincibility led some companies to engage in lavish spending on elaborate business facilities and luxury vacations for employees. Upon
6138-666: The name "Google" had found its way into everyday language, causing the verb " google " to be added to the Merriam-Webster Collegiate Dictionary and the Oxford English Dictionary , denoted as: "to use the Google search engine to obtain information on the Internet". The first use of the verb on television appeared in an October 2002 episode of Buffy the Vampire Slayer . Additionally, in 2001 Google's investors felt
6231-538: The need to have a strong internal management, and they agreed to hire Eric Schmidt as the chairman and CEO of Google. Eric was proposed by John Doerr from Kleiner Perkins. He had been trying to find a CEO that Sergey and Larry would accept for several months, but they rejected several candidates because they wanted to retain control over the company. Michael Moritz from Sequoia Capital at one point even menaced requesting Google to immediately pay back Sequoia's $ 12.5m investment if they did not fulfill their promise to hire
6324-503: The new entrepreneurs had experience in business and economics, the majority were simply people with ideas, and did not manage the capital influx prudently. Additionally, many dot-com business plans were predicated on the assumption that by using the Internet, they would bypass the distribution channels of existing businesses and therefore not have to compete with them; when the established businesses with strong existing brands developed their own Internet presence, these hopes were shattered, and
6417-429: The new policy, Google may remove information from only certain but not all search queries. It would not remove content that is "broadly useful", such as news articles, or already part of the public record. In May 2022, Google announced that the company had acquired California based, MicroLED display technology development and manufacturing Start-up Raxium. Raxium is set to join Google's Devices and Services team to aid in
6510-496: The newcomers were left attempting to break into markets dominated by larger, more established businesses. The dot-com bubble burst in March 2000, with the technology heavy NASDAQ Composite index peaking at 5,048.62 on March 10 (5,132.52 intraday), more than double its value just a year before. By 2001, the bubble's deflation was running full speed. A majority of the dot-coms had ceased trading, after having burnt through their venture capital and IPO capital, often without ever making
6603-579: The peak of the bubble during what he called "temporary insanity" and a "once-in-a-lifetime opportunity". He shorted stocks just before the expiration of lockup periods ending six months after initial public offerings, correctly anticipating many dot-com company executives would sell shares as soon as possible, and that large-scale selling would force down share prices. Most dot-com companies incurred net operating losses as they spent heavily on advertising and promotions to harness network effects to build market share or mind share as fast as possible, using
6696-481: The possibility of selling to or hearing from those people at the same moment when they were reached, promised to overturn established business dogma in advertising, mail-order sales, customer relationship management , and many more areas. The web was a new killer app —it could bring together unrelated buyers and sellers in seamless and low-cost ways. Entrepreneurs around the world developed new business models, and ran to their nearest venture capitalist . While some of
6789-578: The protests. Later in 2019, some workers accused the company of retaliating against internal activists. On March 19, 2019, Google announced that it would enter the video game market, launching a cloud gaming platform called Google Stadia . On June 3, 2019, the United States Department of Justice reported that it would investigate Google for antitrust violations. This led to the filing of an antitrust lawsuit in October 2020, on
6882-609: The region's specific needs and training local talent. The partnership between Google and Saudi Arabia includes collaboration with key stakeholders, such as the Public Investment Fund (PIF), to develop AI applications that will benefit sectors like healthcare, finance, oil and gas, and logistics. The initiative focuses on creating localized AI technologies, with an emphasis on integrating Arabic language capabilities and enabling widespread cloud adoption. Google indexes billions of web pages to allow users to search for
6975-636: The remainder of 2020, except for a small number of strategic areas, recalibrating the focus and pace of investments in areas like data centers and machines, and non-business essential marketing and travel. Most employees were also working from home due to the COVID-19 pandemic and the success of it even led to Google announcing that they would be permanently converting some of their jobs to work from home The 2020 Google services outages disrupted Google services: one in August that affected Google Drive among others, another in November affecting YouTube , and
7068-448: The same time, a decline in interest rates increased the availability of capital. The Taxpayer Relief Act of 1997 , which lowered the top marginal capital gains tax in the United States , also made people more willing to make more speculative investments. Alan Greenspan , then- Chair of the Federal Reserve , allegedly fueled investments in the stock market by putting a positive spin on stock valuations. The Telecommunications Act of 1996
7161-461: The search context and the user history. In 2007, Google launched " AdSense for Mobile ", taking advantage of the emerging mobile advertising market. Google Analytics allows website owners to track where and how people use their website, for example by examining click rates for all the links on a page. Google advertisements can be placed on third-party websites in a two-part program. Google Ads allows advertisers to display their advertisements in
7254-565: The second most valuable brand in the world (behind Apple Inc.) in 2013, 2014, 2015, and 2016, with a valuation of $ 133 billion. On August 10, 2015, Google announced plans to reorganize its various interests as a conglomerate named Alphabet Inc. Google became Alphabet's largest subsidiary and the umbrella company for Alphabet's Internet interests. Upon completion of the restructuring, Sundar Pichai became CEO of Google, replacing Larry Page, who became CEO of Alphabet. On August 8, 2017, Google fired employee James Damore after he distributed
7347-412: The technology sector. In a 2015 book, venture capitalist Fred Wilson , who funded many dot-com companies and lost 90% of his net worth when the bubble burst, said about the dot-com bubble: A friend of mine has a great line. He says "Nothing important has ever been built without irrational exuberance ." Meaning that you need some of this mania to cause investors to open up their pocketbooks and finance
7440-540: The world as measured by market share. On the list of most valuable brands, Google is ranked second by Forbes and fourth by Interbrand. It has received significant criticism involving issues such as privacy concerns , tax avoidance , censorship , search neutrality , antitrust and abuse of its monopoly position. On August 5, 2024, D.C. Circuit Court Judge Amit P. Mehta ruled that Google held an illegal monopoly over Internet search. Google began in January 1996 as
7533-543: Was Shriram who told Bezos about Google. Bezos asked Shriram to meet Google's founders and they met six months after Shriram had made his investment when Bezos and his wife were on a vacation trip to the Bay Area. Google's initial funding round had already formally closed but Bezos' status as CEO of Amazon was enough to persuade Page and Brin to extend the round and accept his investment. Between these initial investors, friends, and family Google raised around $ 1,000,000, which
7626-602: Was expected to result in many new technologies from which many people wanted to profit. As a result of these factors, many investors were eager to invest, at any valuation, in any dot-com company , especially if it had one of the Internet-related prefixes or a " .com " suffix in its name. Venture capital was easy to raise. Investment banks , which profited significantly from initial public offerings (IPO), fueled speculation and encouraged investment in technology. A combination of rapidly increasing stock prices in
7719-569: Was fined by Russia with 2.5 decillion dollars for allegedly blocking pro-Kremlin propaganda. In November 2024, Google announced the establishment of a new artificial intelligence (AI) hub in Saudi Arabia, aiming to support the Kingdom's economic growth and technological development as part of its Vision 2030 initiative. This AI hub is projected to contribute up to $ 71 billion to Saudi Arabia's economy by advancing AI-driven solutions tailored to
7812-422: Was fired on the same day. Between 2018 and 2019, tensions between the company's leadership and its workers escalated as staff protested company decisions on internal sexual harassment, Dragonfly , a censored Chinese search engine, and Project Maven , a military drone artificial intelligence, which had been seen as areas of revenue growth for the company. On October 25, 2018, The New York Times published
7905-409: Was from clicks (cost per clicks), amounting to US$ 109,652 million in 2017. This includes three principal methods, namely AdMob , AdSense (such as AdSense for Content, AdSense for Search, etc.) and DoubleClick AdExchange. In addition to its own algorithms for understanding search requests, Google uses technology from its acquisition of DoubleClick , to project user interest and target advertising to
7998-841: Was further eroded by several accounting scandals and the resulting bankruptcies, including the Enron scandal in October 2001, the WorldCom scandal in June 2002, and the Adelphia Communications Corporation scandal in July 2002. By the end of the stock market downturn of 2002 , stocks had lost $ 5 trillion in market capitalization since the peak. At its trough on October 9, 2002, the NASDAQ-100 had dropped to 1,114, down 78% from its peak. After venture capital
8091-489: Was handling approximately 3 billion searches per day. To handle this workload, Google built 11 data centers around the world with several thousand servers in each. These data centers allowed Google to handle the ever-changing workload more efficiently. In May 2011, the number of monthly unique visitors to Google surpassed one billion for the first time. In May 2012, Google acquired Motorola Mobility for $ 12.5 billion, in its largest acquisition to date. This purchase
8184-540: Was initially funded by an August 1998 investment of $ 100,000 from Andy Bechtolsheim , co-founder of Sun Microsystems . This initial investment served as a motivation to incorporate the company to be able to use the funds. Page and Brin initially approached David Cheriton for advice because he had a nearby office in Stanford, and they knew he had startup experience, having recently sold the company he co-founded, Granite Systems, to Cisco for $ 220 million. David arranged
8277-629: Was made in part to help Google gain Motorola's considerable patent portfolio on mobile phones and wireless technologies, to help protect Google in its ongoing patent disputes with other companies, mainly Apple and Microsoft , and to allow it to continue to freely offer Android. In June 2013, Google acquired Waze for $ 966 million. While Waze would remain an independent entity, its social features, such as its crowdsourced location platform, were reportedly valuable integrations between Waze and Google Maps , Google's own mapping service. Google announced
8370-442: Was no longer available, the operational mentality of executives and investors completely changed. A dot-com company's lifespan was measured by its burn rate , the rate at which it spent its existing capital. Many dot-com companies ran out of capital and went through liquidation . Supporting industries, such as advertising and shipping, scaled back their operations as demand for services fell. However, many companies were able to endure
8463-459: Was reorganized as a wholly owned subsidiary of Alphabet Inc. Google is Alphabet's largest subsidiary and is a holding company for Alphabet's internet properties and interests. Sundar Pichai was appointed CEO of Google on October 24, 2015, replacing Larry Page, who became the CEO of Alphabet. On December 3, 2019, Pichai also became the CEO of Alphabet. The company has since rapidly grown to offer
8556-400: Was the largest to date and was questioned by many analysts. Then, on January 30, 2000, 12 ads of the 61 ads for Super Bowl XXXIV were purchased by dot-coms (sources state ranges from 12 up to 19 companies depending on the definition of dot-com company ). At that time, the cost for a 30-second commercial was between $ 1.9 million and $ 2.2 million. Meanwhile, Alan Greenspan , then Chair of
8649-439: Was virtually no impact or disruption due to adequate preparation. Spending on marketing also reached new heights for the sector: Two dot-com companies purchased ad spots for Super Bowl XXXIII , and 17 dot-com companies bought ad spots the following year for Super Bowl XXXIV . On January 10, 2000, America Online , led by Steve Case and Ted Leonsis , announced a merger with Time Warner , led by Gerald M. Levin . The merger
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