Google's free Chrome browser represents a hidden billion-dollar business for the search engine giant, according to a new investor note from Piper Jaffray. By prodding other browser makers to continually innovate, the firm's analysts say, Google's services are able to deliver even richer experiences to users.
This is a major plus for the search engine giant, noted Piper Jaffray analysts Gene Munster, Douglas Clinton and Matthew Lebo in a Wednesday investor note.
"Based on Google's recent search distribution deal with Mozilla for Firefox, we believe Chrome could be worth over $1 billion to Google," Piper Jaffray's analysts wrote.
The investment firm's analysts believe Chrome began as -- and still remains -- a way for Google to push browser makers to introduce more advanced features.
"However,...