Google Inc (NASDAQ:GOOG) is planning to launch an Amazon Prime competitor that will be $10 cheaper that Amazon Prime and called “Google Shopping Express”.
Techcrunch reports through its sources that this service will be $10 cheaper than Amazon Prime at $69 a year and the new online shopping service by Google will offer same-day delivery from brick mortar stores like Walmart, Target and Walgreens and Safeway.
Reportedly this project is being run by an eCommerce Product Manager at Google, Tom Fallows, and it is a move by Google to be more focus on eCommerce initiatives.
Google Shopping and Google Wallet need to get more focus by the search giant to serve as a “store shelf” to perform like big retailers.
In retail market Google is having lot of potential to capitalize its money and efforts. If Google successfully launched the product, then it will be a rival to “eBay Now” and “Amazon Prime”.
Some recent acquisition by Google of both Channel Intelligence and BufferBox is an attempt by the company to dominate in the online to offline retail market and now Google Shopping Express service if publicly debuts.
Let’s have a short overview of the financial highlights of the stock, Shares of Google surged 1.90 % to settle at $821.50 on March 5, 2013.
GOOG is associated with S&P 500 with 53861 employees. Sales of GOOG were 50.18 billion with net income of 10.79 billion.
GOOG stock surged during the trade to the maximum level at $822.84 and at the lowest level of $805.00 after opening price of $805.30. GOOG has earning per share of $32.47while it has 329.66 million shares outstanding with institutional ownership of 69%.
The price to sales ratio of GOOG in past twelve months was calculated as 5.40 and price to cash ratio remained 5.63. While retunes ratios are concerned, the GOOG return on equity ratio is recorded as 16.61% and increased 15.08% return on investment while its return on asset remain 12.97%.