Google Inc. is an
American company that specializes in Internet-related services and products. These include search, software and online advertising. Google was
founded in 1998 by Larry Page and Sergey Brin while they were students at Stanford University, in California. Both of them thought that it would be a good idea to make
the company a conglomerate and together both of them own about 14 percent of its shares, and control another 56 percent of the
stockholders through a process of voting (like a democracy), in other words
there is not one owner of google many people have shares in the company. They
try and appeal to everyone as they are the biggest search engine in the world.
However, for Google, the main
target markets are established business advertisers. They designed a searchable
database and matrix to favor big business and established merchants with brand
recognition, to create a larger audience for the companies, which would essentially
create a much larger gross profit.
They’ve developed viral marketing and have attracted the attention of
all sources of media for promotions both paid and free. This has provided them
with a top dollar, revenue gaining advertising medium, yet they are disguised
as an Internet search engine to the web surfer. They continue to develop more
Internet advertising opportunities and technology to increase revenues from
advertisers. Alphabet Inc. is a multinational conglomerate, which was created
in October 2015. It is the parent company of google including other google
subsidiaries. Alphabet Inc. is owned by Larry page and Sergey Brin, who are the
founders of google itself. This parent company was built to keep everything
about google intact. The organization process through google is key to keeping
them on track and has already brought them to where they are today. The order
of power is simple as this Alphabet Inc.> Google > YouTube, Google Global,
Jigsaw and all other Google subsidiaries.
Google’s market dominance has led to prominent media coverage, including criticism of the company over issues such as high numbers of tax payment, search neutrality, copyright, censorship of search results and content, and privacy. Other criticisms include alleged misuse and manipulation of search
results, its use of others’ intellectual property, concerns that its compilation of
data may violate people’s privacy, and the energy consumption of its servers, as well as concerns over traditional business issues such
as its monopoly effect . Google has been involved in a number of lawsuits including the ‘High-Tech Employee Antitrust
Litigation’ which resulted in Google being one of four companies to pay a $415 million
settlement to employees.
On June 27, 2017, the company received a
record fine of €2.42 billion from the European Union for “promoting its own shopping comparison service at
the top of search results.” Alphabet, Google’s parent company, made a
profit of $2.5 billion (€2.2 billion) in the first six weeks of 2017 alone. The
real impact of the ruling is that Google must stop using its dominance as a
search engine to give itself the edge in another market: online price
comparisons.” The company disputed the ruling, as they realized that they
are one of the biggest advertising companies in the world right now.