The European Union fined Google $1.7B for violating online advertising antitrust rules.
For Google, it’s business as usual: This is Google’s 3rd multibillion-dollar fine since 2017 — and it likely won’t be the last.
The EU launched an investigation into Google’s search algorithm in 2010 after smaller internet companies complained Big G was unfairly boosting its own goodies in search.
After 7 years, the EU accused Google of manipulating search results in 2017, levying a fine of $2.7B.
Then, in 2018, the EU fined Google $5B for forcing phone makers using Google’s Android operating system to install Google’s search and web apps. Now the EU’s going after Google’s restrictive 3rd-party ad contracts.
Google now owes the EU about $9.3B — equivalent to the market caps of Groupon, Bed Bath and Beyond, Office Depot, Papa Johns, Sonos, and GoPro combined.
But the craziest part? Google has yet to pay a dime. The search giant is appealing the first 2 fines, and deciding whether to appeal the 3rd.
Plus, paying up wouldn’t be a big deal for Googs: Last year, Alphabet did $137B in annual revenue.
The EU has established itself as big tech’s baddest watchdog. But these first few fines were levied a decade late: $9.3B in fines is nothing for Google, and a $14.5B penalty is small potatoes for a big Apple.