Last week we discussed how Google's stock continues to rise and how Google continues to remain innovative and is working towards providing the best user experience in search. Well this week saw the Google (GOOG) share price hit an all-time high as it trades at around the $525 mark. This is a far cry from when the share price initially opened on the market in August 2004 at $85/share. Many analysts have said that Google could not continue to be innovative at the torrid pace that we saw in 2004. Well it is almost three years later and we would argue that Google has even picked up the pace.
In the past week for example, Google hasannouncedthat its Library Project has teamed up with the Committee on Institutional Cooperation, a national consortium of 12 research libraries, to digitize collections in its libraries.
- Google bought start-up PeakStream for its Platform to help developers take advantage of advances in chip technology.
- Google formed an alliance with Salesforce where Salesforce.com will roll out a new version of its service so its 32,300 customers can distribute their online ads through Google.
- Google finalized their purchase of Feedburner a company that claims that they have more than 431,000 Web publishers and that it delivers about 67 million feeds to its subscribers each day.
- Google opened a second R&D facility in Israel
- That's a pretty eventful week. Google continues to impress. Many analysts however are still waiting for Google's bubble to burst. Truth of the matter is, who is going to upset Google from their lofty perch? If we are talking Search I'm not sure that Yahoo (YHOO) or Microsoft (MSFT) have it in them.
They say that America is the land of hope and dreams. Google may just become the business of hope and dreams as the Mountain View-based company now has a market value of $162 billion less than nine years after co-founders Larry Page and Sergey Brin set up shop in a Silicon Valley garage.
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