Google Might Have To Pay Over $100 Billion To Settle All The Lawsuits Filed Against It By Competitors & Advertisers
6 months, 2 weeks ago

Google Might Have To Pay Over $100 Billion To Settle All The Lawsuits Filed Against It By Competitors & Advertisers

ABP News  

Google has been under a lot of heat recently, especially after a federal judge ruled that the tech giant is a monopolist. The ruling determined that Google leveraged its dominance in text advertising to set “supra-competitive prices,” or prices that exceed what would be typical in a competitive market, thereby securing “monopoly profits” on text ads, such as those displayed prominently at the top of search results. The court found that Google exploited its monopolistic position to increase the prices of its search text ads by 5 per cent to 15 per cent in order to meet revenue goals without losing market share to competitors. Google Used Its Dominance To Unfairly Box Out Competitors Earlier last month, a review and reservation company named Yelp alleged that Gogole used its dominance in search to unfairly box out competitors in the market for “local search services and for local search advertising.” A Google spokesperson, while responding to these allegations, said, “Yelp’s claims are not new.” The spokesperson added, “Similar claims were thrown out years ago by the FTC, and recently by the judge in the DOJ’s case. The list of potential entities that might sue Google now include Microsoft, the creator of rival search engine Bing, which has spent over $100 billion on search over the past 20 years.

History of this topic

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6 months ago
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