If Google is forced to sell the Chrome browser, Yahoo is ready to bid
If the federal court rules that Google must divest the Chrome browser due to maintaining an illegal monopoly, Yahoo will participate in the bidding. Yahoo Search General Manager Brian Provost stated during the trial that the price of Chrome could reach hundreds of billions of dollars, calling it the most important strategic product in the online space. Since being acquired by Apollo, Yahoo has been working to revitalize its search engine and develop its own browser. OpenAI has also expressed interest in acquiring Chrome and may face fierce competition
According to the Zhitong Finance APP, a senior executive revealed that if the federal court rules that Google (GOOGL.US) must divest the Chrome web browser due to maintaining an illegal monopoly, Yahoo, an internet company backed by Apollo Global Management, will participate in the bidding.
Yahoo Search General Manager Brian Provost testified on Thursday during the Google antitrust case hearing in Washington, stating that Yahoo expects the browser to sell for hundreds of billions of dollars.
Provost stated that Chrome "can be said to be the most important strategic product in the online space," and "with Apollo's support, we have the capability to participate in the bidding."
Provost's testimony is part of a three-week hearing regarding the U.S. Department of Justice's allegations that Google's parent company Alphabet monopolizes the internet search market. Last year, Judge Amit Mehta ruled that Google illegally monopolized the market and is currently considering a series of remedies proposed by antitrust enforcement agencies.
The U.S. Department of Justice and several state governments argue that Google should be forced to sell the popular Chrome browser.
In the early 21st century, Yahoo was a leading search engine but was later overtaken by Google. Yahoo has changed ownership several times, and in 2021, Apollo acquired it from Verizon Communications (VZ.US).
Provost stated that since being acquired by Apollo, Yahoo has been working to "revitalize" its search engine and has begun developing its own browser, which is still in development. He also mentioned that Yahoo had considered acquiring a browser, and after the U.S. Department of Justice publicly proposed that Google sell Chrome, Yahoo became interested in acquiring the browser.
Yahoo may face fierce competition. The head of ChatGPT stated during Tuesday's hearing that OpenAI is also interested in acquiring the Chrome browser.
When asked if OpenAI would bid for Google's browser, Nick Thorne, head of ChatGPT under OpenAI, responded, "Yes, we would consider it, and many other institutions would as well."
