Momentum Already Slowing For Google+? (GOOG, LNKD, RENN, QPSA, SINA, UNTD)
Shares of Google (GOOG), the largest U.S. provider of Internet search services, are up 1% today despite news that momentum for the company’s latest social networking offering, Google+, may already be waning. Last week, the Wall Street Journal reported Google+ had landed an astounding 20 million users in just three weeks, a feat made all the more impressive by the fact that new Google+ users have to be invited to join the service by current users.
The bad news is Google+ saw fewer U.S. visitors last week and users are now spending less time on the site, Bloomberg News reported, citing Experian Hitwise. Investors aren’t getting caught up in that news as the Social Networking Stocks Index is surging 3.4%.
Google+ visits had nearly quadrupled for the week ending July 16, but fell 3% to 1.79 million for the week ending July 23 and total time spent on the site slid 10% to 5 minutes and 15 seconds on average, Bloomberg reported, citing Experian Hitwise.
Google+ is the Internet search giant’s latest effort to challenge Facebook and LinkedIn (LNKD) in the social networking arena, an area that Google has acknowledged it has fallen behind in. Earlier this month, Google CEO Larry Page noted that while his company is excited about the progress Google+ has made in a short amount of time, there is still work to be done.
Investors can track the Social Networking Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
(GOOG) Google Fiber Service Expands to Shawnee (Stock Blog Hub, 5/7/13)
(GOOG) Google Posts Mixed Earnings Results – No Breakout Numbers (Stock Blog Hub, 5/2/13)
Obama-Nixon comparison? There is none! (Poster) (The Political and Financial Mark..., 5/16/13)
|Home | Find | Research | Track | Register | My Account | Logout||Web site design by LightMix|
|© 2011 Indie research Corp. All rights reserved.|