Internet History Podcast 138. (Ch. 9.2) The History of Google Part 2
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Apr 10, 2017 Google's early days were marked by a lack of a solid business model and minimal revenue. The founders initially sold their search technology to portals and enterprises while making vague promises about online ads. The introduction of pay-per-click advertising revolutionized their approach, leading to dominance in online marketing. As they prepared for their IPO, Google surpassed Yahoo in searches, prioritizing their vision over Wall Street pressure. This pivotal moment not only reshaped the tech landscape but also inspired confidence in future innovations.
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Google's Early Revenue Struggles
- Google initially lacked a solid business plan and wasn't making much money.
- Its early strategy relied on search technology licensing, enterprise sales, and vague advertising promises.
Early Advertising Skepticism
- Search advertising initially seemed unpromising due to the dotcom crash.
- Google's founders opposed advertising early on, fearing it biased search results against users.
GoTo's Pioneering Pay-Per-Click Ads
- GoTo.com introduced pay-per-click search ads with bidding for placement.
- Though consumers disliked it, advertisers loved the precise targeting and performance-based payment.