Dallas, Texas 06/24/2015 (Financialstrend) – Early in this month Google Inc (NASDAQ:GOOGL), the giant search engine made an announcement that it will be incorporating ‘Sidewalk Labs’ as an independent , Google-owned company in order to improve the city lives through its technical innovations. In the beginning Google did not give much insight on the Projects it was working on, but now it is clear that Sidewalks will be working on bringing Super-fast Wi-Fi access to big cities starting from New York City (NYC).
In order to work on the challenge more effectively Sidewalks has launched an intersection by merging two companies named control group and Titan who will be the key players behind LinkNYC which was announced last time. With the help of LinkNYC, Sidewalks is planning to provide free services, lots of revenue to the cities and it will be helping the cities to be connected with high speed of Wi-Fi wherever you walk and on any street. LinkNYC goal is to convert the city’s old phone booths to 10,000 ad-supported Wi-Fi pylons. Once the project is successful in NYC the project will be launched in other cities also.
Sidewalks is not only targeting to provide free, fast Wi-Fi but also targeting issues faced by modern world such as pollution, traffic, energy and it is also promising free internet browsing, free domestic phone calling, access to know the directions for driving, free phone charging etc.
Shares of Google Inc (NASDAQ:GOOGL) closed up by 0.66% in yesterday’s trading session to close the day at $563.39. The stock has Yield to date of 6.17 percent with P/E ratio of 27.96. The company had announced new lab project day before yesterday which would provide an platform to journalists in line with its competitors like Apple Inc. (NASDAQ:AAPL) and Facebook Inc. (NASDAQ:FB) which announced respective features. The stock is expected to move up as long as it stays above $545.