Google Inc (GOOG)’s Chairman Accepts Defeat at The Hands of, Inc. (AMZN) and Facebook Inc (FB)


It is unusual for an executive of a top company to praise the success of other companies at the expense of his employees. That is exactly what happened in Berlin when Google Inc (NASDAQ:GOOG)’s Chairman, Eric Schmidt, took to the stage spilling out praises on Amazon and Facebook Inc (NASDAQ:FB).

Google’s Anti-Trust Case

Schmidt had kind words for, Inc. (NASDAQ:AMZN) reiterating that the giant online company had turned out to be a great success on search. He went on to affirm that Facebook had crushed Google’s ambition in networking. The executive also believes there could be another company out there that one day could take out the giant search engine company.

Schmidt’s remarks came in the wake of the ongoing European Commission’s long-running antitrust case where Google Inc (NASDAQ:GOOG) is accused of engaging in unfair trade practices. The giant search company is accused of favoring its products on search results at the expense competitors. There is a perception that Google allows its products to appear highly ranked on search results whenever people are searching for similar products offered by a number of companies., Inc. (NASDAQ:AMZN) seems to be the want-to-be place when one is looking to buy anything as opposed to Google according Schmidt. The executive pointed out a research carried out last year that found out a third of people preferred visiting Amazon’s store when in need of anything as opposed to going directly to Google for the same.

Facebook Beats Google in Brazil

Facebook is another company that seems to be giving Google sleepless nights on the social-networking front. Google Inc (NASDAQ:GOOG) had launched its social network ‘Orkut’ in Brazil, which was later crashed by Facebook in terms of active users; the same way it happened with Myspace.

Schmidt took a jibe at travel companies Expedia Inc. (NASDAQ:EXPE) and Yelp Inc (NYSE:YELP), which have always complained that Google’s ability to answer questions relating to travel matters significantly affected traffic to their sites. Schmidt maintains that these companies traffic has increased faster than Googles over the past years.