Google Inc (NASDAQ:GOOG) has been steadily expanding and offering new products to customers, ever since the company’s inception. Their apps and products are among the best in the world, in each of their respective fields, from Google Search, to Google Talk, and also their Google Maps. This company has been a leader in the Internet business, and continues to offer some of the top products in the world.
Google Inc (NASDAQ:GOOG) has now announced that they intend to increase their market share in the travel sector, with an acquisition of Frommer’s from the firm, John Wiley & Sons. The company announced earlier this year that Frommer’s would be on the market, but had offered no signs of interested buyers. It isn’t surprising to see Google Inc (NASDAQ:GOOG) purchase the renowned travel service, which offers everything from travel guides to hotel ratings.
Google has been expanding its travel sector a lot over the last few years, as they have acquired the restaurant reviewer, Zagat, and travel software provider, ITA. This push in the travel sector has caused some concern among Google’s competitors, regarding whether or not the search engine giant would push their competition lower in search rankings.
Google’s announcement has already caused some competitor’s stocks to fall, as reported by WSJ. Expedia dropped 2% following the announcement, as the already struggling Priceline.com dropped 1%. Priceline has lost a total of 16% this month alone. Most of their losses can be attributed to a less than satisfactory earnings report, released earlier this month.
Frommer’s biggest and most well known product has long been the printed travel guide, and there is no news yet, as to whether Google will publish these online only, or if they will continue to offer the printed version as well.
Google Inc (NASDAQ:GOOG) is currently the highest traded Internet company on the U.S. market.