Google shares surge after foray into classified ads

San Francisco, Nov 18 | Updated: Nov 19 2005, 07:27am hrs
US internet search giant Google saw its stock price surge to new highs after launching an online service that challenges classified advertising sites such as Ebay and Craigslist.

Google's stock topped usd 400 per share during trading on Thursday.

The company had made its market debut in August 2004 at 85 dollars per share. The Silicon valley company on Wednesday launched Google base, an online service enabling people to freely advertise anything from apartment rentals to used sporting goods.

"Google base enables content owners to describe and assign attributes to the information they upload and uses this meta-data to better target search results to what users are looking for," the company said in a statement.

"For example, if a chef chooses to upload their very best recipe for tamales he/she can further describe that recipe with a photo or by assigning attributes such as 'medium-spicy' or 'spicy'."

Service features include online information about the art world, college resources, environmental issues and offerings of local retailers, according to google.

Google base allows people to list items wanted or offered for sale in an online-classified forum similar to those provided by ebay and craigslist.

Ebay is a major purchaser of google online advertising, according to marketwatch in San Francisco.

Google's new service was launched as the search engine leader continues to battle with online titans Yahoo, Microsoft and America online for the loyalty of computer users.