Perplexity Proposes $34.5 Billion Acquisition of Chrome
AI Startup Seeks to Satisfy Antitrust Remedies by Taking Over Browser
U.S. Court to Decide on Measures to Dismantle Google’s Monopoly This Month
Artificial intelligence (AI) startup Perplexity has proposed to acquire Google’s Chrome browser for $34.5 billion (approximately 47.8 trillion won).
On the 12th (local time), the Wall Street Journal (WSJ) and other outlets reported that AI startup Perplexity had made an offer to Google to acquire Chrome for $34.5 billion. This amount is nearly double Perplexity’s market valuation of $18 billion as of last month.
Perplexity stated that several investors, including major venture capital funds, have agreed to fully support the deal. In a letter sent to Google CEO Sundar Pichai on the same day, Perplexity explained that the proposal to acquire Chrome is intended to satisfy antitrust remedies that serve the highest public interest by entrusting Chrome to a capable and independent operator.
Perplexity is an AI-based search engine startup that is challenging Google, which holds a market share of up to 90%. Recently, the company also launched its own AI-powered web browser, “Comet.”
This proposal from Perplexity comes as a U.S. court is set to present measures to restore competition in the online search market. Last August, Judge Amit Mehta of the U.S. District Court for the District of Columbia ruled that Google’s market dominance in a search market antitrust lawsuit filed by the U.S. Department of Justice was an illegal monopoly. Since April, a trial has been underway to determine remedies for the monopoly, and the Department of Justice has suggested the sale of Google Chrome as one possible measure. Judge Mehta is expected to issue a final decision by the end of this month on how to eliminate Google’s illegal monopoly and strengthen competition in the search market.
Google has consistently opposed the Department of Justice’s proposal to sell Google Chrome. During the trial in April, CEO Pichai argued, “The Department of Justice’s measures are far broader than the European Union’s Digital Markets Act (DMA),” and added, “If such measures are implemented, it would become virtually impossible to continue the kind of research and development (R&D) investment and innovation we have pursued over the past 30 years.” He also claimed that “Google has made massive investments in Chrome and remains the most appropriate operator from a security standpoint.”
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