The OGM Interactive Edition - Summer 2023 - Read Now!
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OUR GREAT MINDS
OUR GREAT MINDS
Google. You know the name, you know the company – it’s even become a verb at this point. Everyone understands when you tell them to ‘Google’ it. The company is a real anomaly. It has almost no physical product to sell; there are only about one hundred thousand employees, yet it’s the fourth biggest company in the world.
For businesses, Google is a powerful inspiration. Understanding just how the company functions and the incredible success it enjoys is a massive motivation for your own endeavors.
We’ve broken down the facts and figures of the world of Google to help you understand what it takes to make a business truly great.
Google was first established in 1998. It wasn’t until 2010 that the company developed physical hardware to sell. In the first decade of existence, their impressive growth was down to one thing – the sharing of information.
The company is the most prominent web business that deals solely – or mostly – in online transactions. The amount of revenue they boast comes largely from the popularity of the platform as a search engine.
These astonishing figures are only more impressive when they’re broken down. We’re talking five billion searches per day or 228 million every hour. That’s the sort of traffic that most website owners couldn’t even imagine in their wildest dreams.
As well as being one of the most well-known sites, Google dominates in its own industry. Only 10% of searches occur in other places. Very few industries have such a vast market share attributed to just one platform.
Google truly exploded onto the scene. In 1999, their yearly searches were one billion – which is still a respectable number. Today, that number has soared to a massive one trillion.
Google is such an all-dominating force that it surprises many to learn that it’s not actually the parent company. Google is owned by Alphabet, who are giants in business in their own right. Most people know very little about the organization that brought us one of the most recognizable names in the world.
Google may be the jewel in Alphabet’s crown, but it has many other big-name players under its belt. They also own YouTube, which is another profit driver. Other than this, their endeavors are more experimental. They’ve dabbled in self-driving cars and even urban planning ideas.
The money Alphabet makes from Google and YouTube is huge. This profit gives them the power to snap up promising startups and work at the forefront of innovation in tech. Their business model is set up to provide them with the freedom to experiment with smaller grassroots products and ideas.
Alphabet has far too many subsidiaries to list, but there are a few that drive more profit than any of the others. Many see the following as branches of Google, but they’re so much more than that. Each child company has its own team, business plan, and directives. It’s especially interesting to see how their individual growth has affected the success of Google as a whole.
This Email giant has become one of the biggest in the world thanks to its usability and synchronicity with other arms of Google. You may not think an email service could be worth much, but quick calculations put the average Gmail account at about $3500.
Released in 2005, Google Maps has become a staple in all of our lives. No matter where you are in the world, it’s likely you’ll have opened the app to navigate or find a destination. The most surprising this about Google Maps is the sheer size of the platform. It’s hard to imagine, but keeping data about most corners of the earth is a huge ask.
Since its release in 2008, Chrome has become the browser of choice for many. Although most hardware comes with a default option, most of us actively download Chrome because we feel it’s better. This favoritism is positively reflected in the statistics of the web browser.
It’s difficult to remember a world without YouTube. Today, the video streaming platform is giving cable TV a run for its money. However, it’s often forgotten in the conversation about Google, who bought the platform in 2006. We all recognize the success of YouTube, but it’s still shocking to see the actual numbers behind the streaming site.
When we think of Android, we often consider it a 50/50 competitor with Apple and the iPhone. The reality is considerably different. The company holds almost as large a monopoly on the mobile industry as Google does in the search world. You can send these statistics to your iPhone friend, next time that they brag that their Apple device is better or more popular!
The most important lesson we can learn from Google is that size doesn’t matter. They don’t have millions of employees, and they don’t pump out new products every month, yet their growth has been exponential. By focusing on where they excel, they’re creating a strong foundation for growth.
The other takeaway is their willingness to experiment. From their conception, Google and Alphabet have both taken on endeavors outside of their comfort zone. While some have been profitable, others have not, but innovation cannot exist without failure.
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