The New York Times reported on Tuesday that Alphabet Inc (NASDAQ: GOOG) and its Google subsidiary will shut down Google Compare, a comparison shopping website for insurance products in the UK and US.
Google Compare has been operating for three years in the UK and saw its debut in the US back in March. The New York Times, citing an internal email from Google, noted that Google's shopping comparison site merely didn't catch on with consumers.
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Google has already told its partners in the UK and US that its site will be shut down next month. The company will instead focus on AdWords where "insurance" is one of the most lucrative searched terms.
"Despite people turning to Google for financial services information, the Google Compare service itself hasn't driven the success we hoped for," The New York Times quoted as Google saying in an e-mail which was posted on the website Search Engine Land.
Shares of Alphabet were trading nearly flat at $705.51on Tuesday morning.
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