20 Years Ago: AdWords Launched
Today in 2000, search advertising takes form
The unique innovation of Google — the story usually goes — centers around PageRank, an algorithm developed by Larry Page and Sergey Brin that used the authority of inbound links to produce search results. It was a clever solution that would revolutionize the world. Still, it made Google no money.
A couple years after its founding in 1998, Google was still burning through cash. One thing was certain — the founders were adamantly opposed to banner ads. So instead, 20 years ago today, they introduced Google AdWords, which allowed businesses to purchase specific keywords through an auction process. (Unlike PageRank, the idea was not unique. The search engine GoTo.com, which eventually became the ad network Overture, thought of it first.)
The pay-per-click keyword model create one of biggest companies in the world, and today, search terms like “mesothelioma” and “personal industry lawyer” can cost several hundred dollars per click.
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