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The Latest Buzz from Google, Facebook, Amazon, PayPal, and Baidu

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Part 3
The Latest Buzz from Google, Facebook, Amazon, PayPal, and Baidu PART 3 OF 10

Google Cloud Receives a Boost from Twitter

Twitter to host some data on Google cloud

Google’s closely watched cloud computing business recently got a boost from Twitter (TWTR), which signed up for some cloud storage and computing needs. Twitter said that it would host its long-term and rarely used data on Google’s cloud platform. Twitter, a leading provider of social media services, closed the first quarter with 336 million monthly active users.

Apple, Spotify (SPOT), and Snap (SNAP) also rely on Google for some of their cloud computing needs. Spotify finished the first quarter with 170 million subscribers, while Snap exited the quarter with 191 million daily users on its Snapchat platform.

Google Cloud Receives a Boost from Twitter

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Amazon dominates cloud market

Winning even a slice of Twitter’s cloud budget should be viewed as a much-needed boost for Google, which is working on catching up to the competition in the cloud computing space. Amazon (AMZN) dominates the global cloud computing scene in terms of both revenue and market share. Amazon’s share of the global cloud computing market was last estimated at 34% compared to 13% for its closest competitor Microsoft (MSFT), according to Synergy Research. IBM (IBM), Google, and Alibaba (BABA) command less than a 10% share of the cloud market each.

Google last said its cloud business generates an average of $1.0 billion in revenue every quarter. Amazon’s cloud business brought more than $5.0 billion in revenue in the first quarter of 2018.

Investing in cloud

Cloud computing is one of the areas in which Alphabet (GOOGL) is making big investments. Last year, Google said that it would focus on products and features rather than low-cost pricing to win over cloud customers.

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