CEO Eric Schmidt told reporters on Tuesday that the Internet search leader intends to gradually work in “layers”ofsocial networking rather than unveil a flashy new product in one go,but also said he intends to sustain Google’s pace of buys.
Google has struggled to find the right touch in creating the types of social networking services that have become popular online activities for consumers.
It pulled the plug on Google Wave,one such high profile product launched last year.Media reports have said it is developing anew product dubbed Google ME to challenge Facebook, which has more than half a billion users worldwide.
The company this year has undertaken a series of smal-l to mid-sized purchases, including a $182-million deal to take over social networking firm Slide,and a $700 million offer for airline ticketing firm ITA Software.
Schmidt expects that last deal to win regulatory approval. He said the level of scrutiny it has drawn was similar to that for previous acquisition of Admob,which won a green light.
He was speaking on the sidelines of Google Zeitgeist, an event grouping industry executives and the media.
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