“Shutdown of Google Reader because of a ‘lack of consumer appeal?’ No way. Google has not disclosed the number of Google Reader users, but irate users of the doomed app took to Twitter on Thursday to vent about the closing of the service, making “Google Reader” one of the top trending topics on the microblogging site. “These moves support our general thesis that management is disciplined in its capital allocation efforts,” Morningstar analyst Rick Summer said, adding that none of these closures will affect his forecast or fair value estimate on Google’s stock. Google declined to comment beyond the blog post. “Usage of Google Reader has declined, and as a company we are pouring all of our energy into fewer products,” the company said on its official blog on Wednesday. Google said there were “two simple reasons” for closing the service, which was launched in 2005. Google Reader aggregates feeds in RSS (rich site summary) - a format for creating streams from changing Web content - and makes it easy for people to discover websites of interest and keep tabs on them.īut the service has become less compelling in recent years with the growing popularity of Twitter.
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