Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Friday, December 20, 2019 2:33:17 PM
By: Market Realist | December 20, 2019
Google (GOOGL) and PayPal (PYPL) are competitors in the digital payments market. There’s particularly a big clash between the companies in India, a top priority international market for many technology companies.
In summer 2017, Google launched an India-specific mobile payment service called Tez, which it later rebranded as Google Pay. A few months after Google’s move with Tez in India, PayPal expanded in the country by launching domestic operations there.
Despite their payment rivalry, the two companies find ways to work together. The search giant looks set to score some big wins in 2020 courtesy of PayPal. Here are the two major ways in which the tech behemoth stands to benefit from PayPal in the new year.
PayPal plans to increase its usage of Google Cloud
PayPal already uses Google Cloud for some of its operations. It now plans to migrate more of its workloads to the platform next year. PayPal CTO Sri Shivananda told Business Insider last month that the company aims to move at least 25% of its transaction workloads to Google Cloud in time for the 2020 holiday season.
PayPal hopes to cut costs by migrating some of its transaction workloads to the platform.
For Google, having PayPal increase usage of its cloud would be a huge boost to its cloud ambitions. Right now, it ranks as the world’s third-largest cloud computing company with around an 8.0% market share. However, the company aims to be at least the second-largest cloud company in five years. That would require accumulating market share quickly to overtake Microsoft (MSFT), which currently ranks second in the cloud market with about an 18% market share. Amazon (AMZN) has a clear lead with about a 38% market share.
There’s a $266 billion revenue opportunity for Google in the cloud market next year, according to Gartner estimates. It counts on its cloud business to diversify its revenue sources. Currently, it’s dependent on the advertising market.
PayPal executive to join Google next year
In addition to winning more cloud business from PayPal, Google is also set to benefit from a key PayPal talent. It’s hired PayPal’s COO, Bill Ready, who will make the shift next month. Ready will helm Google’s commerce products unit.
GOOGL to exit 2019 on a positive note
The stock of Google parent Alphabet is one of the best performing big tech stocks this year. Alphabet stock is up 30% this year. PayPal stock is also up about 30% this year.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent GOOG News
- MongoDB and Google Cloud Collaborate to Optimize Gemini Code Assist for Developers Building Applications on MongoDB • PR Newswire (US) • 05/02/2024 10:00:00 AM
- Google Terminates Employees Over Protests Against Israeli Government Contract • IH Market News • 04/18/2024 12:20:50 PM
- Apple in Talks with Google to Integrate Gemini AI into iPhone, Shaping a New Era in Tech Collaboration • IH Market News • 03/19/2024 10:39:54 AM
- Futures Pointing To Continued Weakness On Wall Street • IH Market News • 03/05/2024 02:03:27 PM
- U.S. Stocks May Lack Direction Following Yesterday’s Modest Pullback • IH Market News • 02/27/2024 02:14:46 PM
- FTC to Inquire to Microsoft's, Google's, Amazon's AI Partnerships • Dow Jones News • 01/25/2024 06:12:00 PM
- Lüm Mobile Taps Alepo's TelcoBot.ai for Generative AI Customer Service • PR Newswire (US) • 01/25/2024 04:00:00 PM
- Alphabet on Track for Record High Close -- Data Talk • Dow Jones News • 01/25/2024 03:45:00 PM
- Google to Settle Chip Patent Lawsuit With Singular Computing • Dow Jones News • 01/24/2024 07:15:00 PM
- Alphabet Division X Cutting Dozens of Staff, Bloomberg Reports • Dow Jones News • 01/22/2024 04:32:00 PM
- Alphabet on Track for Highest Close Since February 2022 -- Data Talk • Dow Jones News • 01/22/2024 03:36:00 PM
- AST SpaceMobile Gets Investments From AT&T, Google • Dow Jones News • 01/18/2024 10:00:00 PM
- Google to Invest $1 Billion to Build UK Data Center • Dow Jones News • 01/18/2024 06:51:00 PM
- Applied Materials, Google to Collaborate on AR Technology • Dow Jones News • 01/09/2024 01:12:00 PM
- Alphabet on Track for Highest Close Since April 2022 -- Data Talk • Dow Jones News • 12/20/2023 03:49:00 PM
- Trending: Alphabet to Pay $700 Million in Google Play Settlement • Dow Jones News • 12/19/2023 08:13:00 PM
- Trending: Epic Games Wins Antitrust Lawsuit Against Google • Dow Jones News • 12/12/2023 03:50:00 PM
- Alphabet on Pace for Largest Percent Increase Since July -- Data Talk • Dow Jones News • 12/07/2023 03:22:00 PM
- Google, Canada Reach Deal Over Planned Online News Law • Dow Jones News • 11/29/2023 08:05:00 PM
- Google, Canadian Government Reach Deal on Online News Act, CBC Reports • Dow Jones News • 11/29/2023 05:23:00 PM
- VMware and Google Cloud announce planned PostgreSQL-compatible Database Solution for traditional and generative AI applications on VMware Cloud Foundation • Business Wire • 11/07/2023 08:05:00 AM
- Match Group, Google Reach Binding Term Sheet in Legal Battle • Dow Jones News • 10/31/2023 09:29:00 PM
- Alphabet Ends Down 9.5%, Sees Largest Percent Decrease Since March 2020 -- Data Talk Update • Dow Jones News • 10/25/2023 08:59:00 PM
- Alphabet Down Over 8%, on Pace for Largest Percent Decrease in Almost a Year -- Data Talk • Dow Jones News • 10/25/2023 02:48:00 PM
- Stocks to Watch: Microsoft, Alphabet, Stride • Dow Jones News • 10/25/2023 12:16:00 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM