Google Executive Chairman Eric Schmidt confessed at a conference on Tuesday that it tried unsuccessfully to team up with social networking site Facebook in order to adapt with shifting technology and strives to maintain growth.
Executive Chairman maintained that he has not pushed hard enough to address the threats posed by Facebook during his tenure as CEO as facebook was not willing to do the deal.
Schmidt, who ended his 10-year run as CEO in April and handed the reins to 38-year-old Google co-founder Larry Page, made the comments at the D9 conference organized by the blog AllThingsD.
Google, generated $29 billion gross revenue last year is the world's no 1 Search Engine. Rapidly growing upstarts such as Facebook and groupons are becoming threats to its core advertising business.
In a 90 minutes onstage interview, Schmidt discussed the increasingly competitive landscape, as well as the growing privacy and regulatory scrutiny it is facing. Google recently renewed a partnership with Apple in which Google provides map technology featured on the iPhone, he said.
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