Facebook vs Google Internet Rivalry Shifts to Stock Market

By on Feb 4, 2012 in Internet, Technology Comments
Facebook Headquarters

Facebook headquarters in Menlo Park
Image Credit: Kimihiro Hoshino

Facebook has reportedly taken its internet rivalry with Google into the stock market according to analysts. Considered as a social networking giant, Facebook has filed an initial public offering (IPO) with an initial registration amount of $5 billion, as reported by several international news sites last Thursday, February 2, 2012.

During its IPO filing, Facebook cited Microsoft and Twitter as competitors and Google as its major rival. In a statement, Facebook said that they “compete broadly with Google‘s social networking offerings, including Google+.” Facebook elaborates that their “current and potential competitors have significantly greater resources and better competitive positions in certain markets than we do.”

Michael Gartenberg, analyst at Gartner technology, said that the IPO now “gives Facebook the ability to roll out more services.” Gartenberg adds that “It’s going to be harder for companies to compete with Facebook.”

Facebook reportedly has 800 million users compared to Google+‘s 90 million. The social network titan recorded an estimated 794.3 million unique visitors in December.

ComScore, an online tracking company, reported that Facebook users spent an average of 377.3 minutes on the site in December compared to 207.2 minutes on Google sites.

Spread The News!

Tags: , , , ,


Related News

What's On Your Mind?