Henry Blodget Says Google Click Fraud Settlement is a Big Deal
Internet Outsider: Google Click-Fraud Settlement VERY Material Henry Blodget says that despite Google’s downplaying their latest $90 million click fraud settlement that it is a big deal.
“Okay, this is getting ridiculous. Six days ago, Google CEO Eric Schmidt dismissed the click-fraud issue, saying it was “not material.” Now, six days later–six days later–Google has agreed to a settlement in ONE click-fraud lawsuit that could reach $90 million. I’m sorry, even if the lawsuit was ridiculous, even when you have $6 billion in revenue, $90 million qualifies as material.
To make matters worse, the company released its “statement” about the settlement on its blog. A $90 million payout on a critical issue at the forefront of every Google observer’s mind, one that the CEO just dismissed as a no-never-mind, and the company has an anonymous associate general counsel type up an “update” on a blog. Google needs some new PR people, and it needs them now.”