Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
The search engine plans to offer a mobile version of ‘Instant’ this year.
The mobile channel is on track to deliver more than $1 billion to Google Inc.’s revenue stream this year, said Jonathon Rosenberg, Google’s senior vice president of product management, in a conference call with investors and analysts yesterday. “Our mobile search queries have grown five times over the past couple of years,” he said, adding that more of those queries now come from Android-based phones. “Clearly, [mobile search] is the future of search on the Internet as more people in more countries come online from these smartphones.”
Google owns the Android mobile web operating system, which competes with Apple’s iOS operating system. A recent survey of application developers conducted by International Data Corp. found that 59% of developers favor Android’s long-term outlook versus 35% favoring Apple’s iOS.
Google CEO Eric Schmidt characterized the success of the Android operating system as phenomenal, and said it was “well past anything that I had ever hoped for and looks like it’s on its way to be a huge, huge success within our devices.” He said that people who use Android search twice as much as they do anything else on mobile, and those searches build Google’s revenue.
Rosenberg also revealed that Google will bring Google Instant to mobile later this fall. Google Instant, which launched online in August, automatically predicts and displays matching results as users type in their search queries. He said Instant saves two to five seconds per search and that the percentage of users that select from Instant results before finishing their search query is steadily rising.