Internet giant Google has said that social media is still a part of the company’s strategy, but appears to have backed away from challenging Facebook.
Chief financial officer Patrick Pichette has said the company is now at a point where pursuing technology is “relentlessly, dramatically increasing” and the company needs to keep creating new products.
“Search is clearly the core product of Google but many of our other products are having phenomenal trajectories,” Pichette told ABC.
“The first driving principle of Google is in fact not money – the first driving principle of Google is understanding that the internet is changing the world,” he added.
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Pichette said that social networking is “just one chapter” of the technology race and that “it will be embedded in many of our products… but it’s one chapter of an entire book”.