The American multinational company ‘Google’ is the most visited website worldwide. The company ranks at Number 1 when we talk about Big Five technological companies. Establishing itself in the field of search engines, cloud computing, and online advertising the company has a net worth of $34.3 billion and a market cap of $787.6 billion. There has been tremendous growth by them getting into different sectors and dominating the field. Google comprises of Google Docs, Google Sheets, and Google Slides, Gmail, Google Calendar, Google Drive, Duo, Hangouts, Chat, and Meet, Google Translate, Google Maps, Waze, Google Earth, and Street View, Google Podcasts, YouTube, Blogger, Google Keep, and Google Jamboard, Google Photos. They have also launched their own smartphone Google Pixel which has been competing with iPhone and Samsung. Acquisitions and mergers are the biggest reason for increasing Google’s status in the market. The company has been very smart about buying organizations that will grow in the future and cutting down their competitions. Recently Google announced that FitBit will be joining their family and let us understand why they bought it.
James Park the CEO and founder of FitBit stated that the reason behind selling the company was because with Google’s help they can spend more on innovation without worrying about the financials and produce better products that can help people and their health. Park and Google have guaranteed that they have strict privacy policies and have assured the users that their data won’t be used for advertisement purposes. FitBit will also allow users to connect to third-party apps and will not limit themselves to Google Fit. Park mentioned that there won’t be any changes in the user experience. Google acquired the company for $ 2.1 billion with a motive of helping them to innovate more. Many have called Google out stating that the main motive of purchasing Fitbit was to get their hands on user health data. Fitbit has already been working with government organizations and insurance companies on giving out more deals to the citizens and customers regarding their health. These corporate partnerships also help google to get the best of everything. Google has been working on wearables for the past few years and now its competitor Apple has also entered the market with the release of Apple watches entering the health tracking devices sector. Fitbit has great hardware with Google’s support in technological innovation they can create more products and attract more people. But the one thing people are concerned about is their data. Google is currently in the middle of an antitrust investigation by the US government and has been called out for buying ht e competitors trying to create a monopolistic market for itself.
