Google gets hit with huge fine by European regulators – but it hardly hurts.
Take THAT, Google!
And with those words, or perhaps a more formal and civilized version of those words, the European Union’s commission in charge of competition policy (yes, that position exists) threw the book at the Silicon Valley search giant over its advertising practices on the Continent.
Actually, it was only $2.7 billion, which for Google and its mega money bags is not really a “book” but maybe the Cliff Notes.
Google parent Alphabet’s current market value is $580 billion, second only to Apple’s market cap of $752 billion. According to Forbes, Google’s ”Brand Value” is $102 billion. And with the company’s assets valued at $168 billion, that EU fine will probably seem more like a pesky fly than something that’s going to rattle Google’s bottom line.
The EU hit Google with the fine, which was a record, after it concluded that the company unfairly favored its comparison-shopping service over others. “Rubbish!” said Google, threatening to appeal the fine.
But let’s place that penalty in perspective, shall we?
