Trends and Opportunities in Mobile and Internet Space in China and Rest of the World
Saturday, April 14, 2007
Going Once, going twice, sold to Google
Google just bought Double Click for $3.1 billion, news which wasn’t received too well by the stock market - shares are trading down a buck-and-change a share. The all-cash deal is almost twice what Google paid for YouTube, the New York Times reports. The amount Google spent is shade under Google’s revenues in the fourth quarter of 2006 ($3.21 billion) and what the company earned in entire 2006. At the end of 2006, Google had $11.2 billion in cash.
One thing is becoming clear - Google wants to dominate the online advertising business, and will pay anything to keep rivals like Microsoft on a weak footing. It was rumored that Microsoft was considering a bid for DoubleClick for around $2 billion.