Google Investor: FTC Launches Google Antitrust Inquiry (Video) *Google: supporting choice, ensuring economic opportunity*

GOOG!

Google Search is believed to be the target of the FTC inquiry

USA Federal Trade Commission Launches Antitrust Inquiry Google announced the morning of Friday, June 24, 2011 that the FTC had launched "a review of our business" in a blog post titled: "Supporting choice, ensuring economic opportunity". Google continues to be investigated by the European Commission for "abusing its dominance" as reviewed here in 2010 (EU Investigates Google). Google's blog post responded to the FTC announcement, "Because of the many choices available to you, we work constantly on making search better, and will continue to follow the principles that have guided us from the beginning:

● Do what’s best for the user

● Provide the most relevant answers as quickly as possible

● Label advertisements clearly

● Be transparent

● Loyalty, not lock-in

Google Confirms Receipt of Formal Investigation by the FTC Google Inc (NASDAQ: GOOG) confirmed today that it had received "formal notification from the U.S. Federal Trade Commission that it has begun a review of our business." The notification came on Thursday, the company said.

In a posting on their official blog by Google Fellow Amit Singhal, the company said, "It's still unclear exactly what the FTC's concerns are, but we're clear about where we stand. Since the beginning, we have been guided by the idea that, if we focus on the user, all else will follow. No matter what you're looking for--buying a movie ticket, finding the best burger nearby, or watching a royal wedding--we want to get you the information you want as quickly as possible. Sometimes the best result is a link to another website. Other times it's a news article, sports score, stock quote, a video or a map."

Google has been accused by competitors of promoting its services over those of rivals in its search results, and Google dominates the online search business in the U.S. as well as in many European countries.

The search giant added, "At Google, we've always focused on putting the user first. We aim to provide relevant answers as quickly as possible--and our product innovation and engineering talent have delivered results that users seem to like, in a world where the competition is only one click away. Still, we recognize that our success has led to greater scrutiny."

About Google

Google describes itself in press releases as, "Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia."

Google's Mission Statement: "Google's mission is to organize the world's information and make it universally accessible and useful. The first step toward fulfilling that mission came when our founders, Larry Page and Sergey Brin, working out of a Stanford University dorm room, developed a new approach to online search that quickly spread to information seekers around the globe. Google is now widely recognized as the world's largest search engine -- a free service whose utility and ease of use have made it one of the world's best-known brands almost entirely through word of mouth from satisfied users."

Charts and Analysis!