Google Posts

Google acquires DrawElements for more than $10 million

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Google has acquired Helsinki-based 3D graphics startup DrawElements for more than $10 million. The terms of the deal were undisclosed, but Arcticstartup.com reported that it was over $10 million.

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Google will no longer label freemium games as ‘free’

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Google will no longer label games that have in-app purchases as “free” in the Google Play Store. The change is in response to meetings with the European Commission. The agency has concerns over how Google and Apple promote “freemium” apps.

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Google recruits the first iPhone jailbreaker George Hotz 

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George Hotz (known as geohot) has been hired to help Google with its hacker security team. When Hotz was 17, he was the first person in the world to jailbreak the iPhone in 2007. Hotz also released several jailbreaks. Hotz ended up in legal trouble when he hacked the PlayStation 3. Hotz will now help Google plug security holes in its software. Google’s hacker team is known as “Project Zero,” which has a goal of finding as many zero day vulnerabilities as possible.

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Google Inc (GOOG): Former Ford CEO Alan Mulally joins board

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Google Inc (NASDAQ:GOOG) has named former Ford Motor Company CEO Alan Mulally to its board of directors. Mulally was named the head of Ford in September 2006, but he left the company earlier this month. Ford chief operating officer Mark Fields became CEO of Ford after him. Mulally left Ford six months earlier than expected. Mulally is known for being a turnaround wizard at Ford Motor Company. Ford is expected to make $8 billion in pre-tax profits this year and the company was losing money when he joined.
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Google Inc (GOOG) reports $16B in revenue, $4.26B in net income; Nikesh Arora steps down

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Google Inc (NASDAQ:GOOG) has released its Q2 2014 earnings report today. Revenue hit $16 billion, which is up 22% from the previous year. Google’s operating income was $4.26 billion (27% of revenues), which is up from $3.47 billion the year earlier. Net income was $3.42 billion and EPS was $4.99, up from $4.77. In the previous quarter, Google posted revenues of $15.4 billion and a profit of $4.12 billion. Google websites generated $10.94 billion of the total revenues, which is a 23% increase over Q2 2013. Partner websites generated $3.42 billion of revenues. The paid clicks for ads increased 25% year-over-year and cost-per-click was down around 6% in the same period.

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Google Glass creator now works for Amazon

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Babak Parviz is a former Google executive that led the development of Google Glass. Parviz also led some of the efforts of the smart contact lens project while at Google. He has now been hired by Amazon.com. “The primary reason for the move is being excited about what we might accomplish at Amazon,” said Parviz in an e-mail with CNET.

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Yelp Inc (YELP) claims Google is favoring Google+ over Yelp

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Google may have passed the antitrust review with the Federal Trade Commission last year, but Yelp Inc (NYSE:YELP) claims that Google is manipulating U.S. search results in favor of Google+ over Yelp, according to leaked documents sent to TechCrunch. The documents suggest that when people search for a restaurant name, Google Places and other Google services appear at the top even when the user includes “Yelp” in the search keywords.

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Google Inc (GOOG) partners with Dropbox and tech companies to fight patent trolls

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Google Inc (NASDAQ:GOOG) has partnered with Dropbox and several other tech companies to battle patent trolls (non-practicing entities). Patent trolls are companies that buy old patents and tries to make money with them by accusing large companies of infringement. The patent trolls generally request a one-off licensing fee to end lawsuits. Many tech companies end up paying the fees because it is cheaper than defending the patent infringement claim. This is the reason why many people believe the patent system in this country is broken. Six companies have partnered to launch the License on Transfer Network (LOT Network).

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