Google was the undisputed Web 1.0 leader due to its domination of search, and by extension, advertising. That dominance still ensures strong continuing cash-flows.
But Google's huge presence in Web 2.0 hasn't yet translated into commensurate revenues.
The acquisitions of YouTube, Orkut and Blogger have yet to be successfully monetised. Its Android platform now has over 50 per cent market share, but Google's revenues from Android are relatively minuscule.
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