British Couple Shed Light on 2017 Google £2.1 Billion Fine for Manipulating Search Results in Europe

British Couple Shed Light on 2017 Google £2.1 Billion Fine for Manipulating Search Results in Europe

British husband and wife, Adam and Shivaun Raff from Crowthorne, Berkshire had spoken for the first time on how they took Google to court in Europe for manipulating search results that benefited Google’s products.  On 27th June 2018, the European Commissioner for Competition had ruled Google for ‘abusing its market dominance’, and imposed the largest ever anti-trust fine to a single entity of £2.1 billion on Google.

” Google Fined £2.1 Billion in Europe in 2017 “

Adam and Shivaun had launched price comparison website ‘Foundem’ in June 2006.  Within days, they noticed ‘Foundem’ was being penalised in search result by Google.  Every attempt to reach Google was futile.  In December 2008, Foundem was named the UK’s top comparison site by Channel 5’s The Gadget Show.

When Google finally whitelisted (preferred results) the site, traffic to ‘Foundem’ jumped by around 10,000%.  It was obvious to them how Google placed its own price comparison service ‘Google Product Search’ (Froogle) at the top search result.  The British couple took their case to the European Commission for Competition in Brussels.

Adam graduated from Edinburgh University with a degree in computer science, and spent 15 years on high-performance computing.  His wife, Shivaun, have more than 10 years of experience in managing complex software development projects for blue-chip companies.  Together, 5hey created a fully developed technology with just one additional developer, a tiny fraction of the resources of its competitors.  In 2009, a leading UK consumer body placed “Foundem” third in ranking for a “leading flight search engine” result in the United Kingdom.

Sources: Daily Mail, Mirror

 

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Google CEO Made Almost $200 Million in 2016

Google CEO Made Almost $200 Million in 2016

The Chief Executive Officer of Google Sunda Pichai received US$199.7 million in compensation for 2016. This marks the third straight year of getting a nine figure pay check. His pay raise came during a year when Google’s sales rose 22.5% and net income rose 19% as it maintain its position as the top seller of Internet advertising.

“This marks the third straight year of getting a nine figure pay check.”

~ Bloomberg

His base pay in 2016 was $650,000. On top of that he received a stock award for $198.7 million. His compensation consisted mainly of 273,328 Class C shares that vest quarterly through 2019 if he is still in the job.

Related Reports: CNBC, Bloomberg

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About Google

The Google story begins in 1995 at Stanford University. Larry Page was considering Stanford for grad school and Sergey Brin, a student there, was assigned to show him around. By some accounts, they disagreed about nearly everything during that first meeting, but by the following year they struck a partnership. Working from their dorm rooms, they built a search engine that used links to determine the importance of individual pages on the World Wide Web. They called this search engine Backrub.

Visit: Google

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

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