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Google “Changing the World”
Google officially became a teenager today. The search engine that became synonymous with search and the “don’t be evil” motto has now been part of the Internet experience for 13 years. The company was founded in September 1998 by Larry Page, now 28, and Sergey Brin, now 27. Each was a Stanford University PhD candidate in computer science. They received financing from venture capital firms Kleiner Perkins Caufield &Byers and Sequoia Capital, as well as Stanford and others.
Now, research is showing that Google’s auction methodology, invented internally and so important for its success, is far more innovative than auction experts once believed. While superficially similar to earlier types of auctions, it is a “novel mechanism” that “emerged in the wild,” write the authors of The High Price of Internet Keyword Auctions, a new study by Benjamin Edelman of Harvard University, Michael Ostrovsky of Stanford University, and Michael Schwarz of the University of California at Berkeley. Google’s AdWords became so successful after its debut four years ago that some of its key features were quickly adopted by Yahoo! Inc. (YHOO ), then the search-ad leader.
In Jan 2010, Google announced that they and other US tech companies had been hacked and that Google is no longer willing to censor searches in China and may pull out of the country. On March 23, 2010 at 3 am Hong Kong Time , Google started to redirect all search queries from Google.cn to Google.com.hk. (Google Hong Kong), thereby bypassing Chinese regulators and allowing uncensored Simplified Chinese Search results. As a special entity recognized by international treaty, Hong Kong is vested with independent judicial power and not subject to most Chinese laws, including those requiring the restriction of free flow of information and censorship of internet materials.
AdWords Select, as it was called at its February, 2002, debut, was actually Google’s third crack at an ad auction. The first two were flawed, but Google founders Larry Page and Sergey Brin kept pushing. Even the current system isn’t perfect. Advertisers complain that it’s too much of a “black box.” Still, if the best measure of innovation is commercial success, Google’s AdWords was a grand slam. Says Kamangar: “Third time’s a charm.”
Google argued that it could play a role more useful to the cause of free speech by participating in China’s IT industry than by refusing to comply and being denied admission to the mainland Chinese market. “While removing search results is inconsistent with Google’s mission, providing no information (or a heavily degraded user experience that amounts to no Information) is more inconsistent with our mission,” a statement said.
Google has made an initial investment with Clean Power Finance to finance residential solar projects. Google has invested around $75m in white label financing solution, managed by Clean Power Finance. Approximately 3,000 homeowners will be benefited with the Clean Power Finance-Google fund to go solar in a number of key markets.
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