Dallas, Texas 07/03/2013 (Financialstrend) – Google Inc (NASDAQ:GOOG) is currently trading at $886.01, up by 0.42%. The stock opened at $879.90 per share. The market capitalization of the company is $293.94 Billion.
As for the federal regulations, Google is prohibited from advertising to kids who are below 13 years old. A class-action lawsuit has been filed against Google and Viacom, Inc. (NASDAQ:VIAB) in New Jersey. The lawsuit has been filed by parents of minor children, alleging that the privacy of their kids who signed up for their profiles on one of the various websites of Nickelodeon family of cable networks, owned by Viacom,has been violated. Google used cookies to keep track of the websites visited by the kids, a fact that may constitute a violation.
Google had the access to that information and used cookies to track the pages kids visited on the Internet, a fact that violated the privacy of the kids. It is claimed that Google has violated the Video Privacy Protection Act and the Internet Privacy (Wiretap) Act.
Google has an immensely powerful advertising machine that can collect large data from its user and partner sites, that are used subsequently to develop specific demographic groups, which help its customers, target the right customers. As a result, sales are likely increased, thus helping Google attract new advertisers. The company has to keep innovating to attract the increasingly young audience.
It is expected that Google Glass will achieve 21.1 million unit sales annually by the year 2018. BI Intelligence expects that the device will display a rather weak growth rate due to potential obstacles the product may face, such as the price and usability of prescription lenses that may prevent it from reaching global success.