Google’s Top Secret Lab Called Google X
Google (NASDAQ:GOOG) knows no limits and that’s the way they like it. Rumors abound regarding the various classified projects that are among the 100 far-fetched ideas that Google (NASDAQ:GOOG) is currently working on at its top secret laboratory, known as Google X (NASDAQ:GOOG). The New York Times reports that Google X (NASDAQ:GOOG) projects include driverless cars, elevators to space, robots that will go to work for you, and refrigerators that are linked to the internet and will order groceries for you when you run low.
While the majority of the projects are still merely conceptual, two sources report that one specific idea has become a reality and could be released as early as next year. The sources of course will not give any information regarding what the project could be, as Google (NASDAQ:GOOG) is so secretive that some employees don’t even know about the existence of Google X (NASDAQ:GOOG).
Spokeswoman Jill Hazelbaker declined to speak about Google X (NASDAQ:GOOG), but told the New York Times that “investing in speculative projects was an important part of Google’s (NASDAQ:GOOG) DNA.” Google pacifies investors by maintaining that the off-the-wall Google X (NASDAQ:GOOG) projects are a very small component of what they do. Collin W. Gillis, an analyst at BGC Partners, said, “These moon-shot projects are a very Google-y (NASDAQ:GOOG) thing for them to do. People don’t love it but they tolerate it because their core search business is firing away,” per the New York Times.
Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), Yahoo! Inc. (NASDAQ:YHOO), Baidu.com, Inc. (NASDAQ:BIDU), Apple Inc. (NASDAQ:AAPL), AOL, Inc. (NYSE:AOL), Amazon.com, Inc. (NASDAQ:AMZN), Adobe Systems Incorporated (NASDAQ:ADBE), Demand Media Inc (NYSE:DMD), IAC/InterActiveCorp (NASDAQ:IACI), and Answers Corporation (NASDAQ:ANSW).
Further Reading: LivingSocial Seeks Capital Injection to Battle Groupon and Google>>