We have all heard about the hard economic times the world is facing, now it seems that the largest search engine company is gearing down as well. Google. the pride of Silicon Valley, is now cutting costs and pulling back on projects. The company Chief Executive Eric Schmidt states that the company will pull back with a wait and see approach to how the hard economic times could impact his company.
In the article it also states that:
Google is also rethinking its practice of providing some Web services without ads, so that it can generate more revenue. On Nov. 17, Google began running ads on Google Finance, a financial-news site, and said it would soon start showing ads to some users of its Google News service as well.
Google’s years of rapid growth were fueled almost entirely by a single business: sales of search ads, the small text ads that appear next to search results cranked out by its Internet search engine. The company realized that the torrid growth couldn’t continue forever. So far, it hasn’t come up with any big new revenue streams.
It was less than a year ago that it was being predicted that Google stock would surpass the $1,000 a share mark. Now it is at $275 as of this writing.