Wednesday, August 24, 2005

Google Breaks Into IM Market

Google doesn't quit.

The search giant introduced a new instant messaging system today to the skepticism of the media but joy of investors.

Is Google playing catch up?

AOL is currently the market leader in instant messaging with an estimated 41 million users.

Maybe, but let's see what they do with the technology anyways.

Google is so cash flush they can afford to take these risks.

The Google Earth venture has obviously worked.

Internet telephony is a good gig anyways -- it bolsters what we said last week: Google will acquire Skype! before the end of 2005.

Skype! is privately held; Catablast! Media Group has an Outperform rating on GOOG shares with a $375 price target.

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