US Internet search giant Google saw its stock price surge to new highs last night after launching an online service that challenges classified advertising sites such as eBay.
Google's stock topped $400 a share during trading. The company had made its market debut in August 2004 at $85 a share.
The Silicon Valley company earlier this week launched Google Base, an online service enabling people to freely advertise anything from apartment rentals to used sporting goods.
'Google Base enables content owners to describe and assign attributes to the information they upload and uses this meta-data to better target search results to what users are looking for,' the company said in a statement.
Service features include online information about the art world, college resources, environmental issues and offerings of local retailers, according to Google.
Google Base allows people to list items wanted or offered for sale in an online-classified forum similar to those provided by eBay and craigslist.
Google's new service was launched as the search engine leader continues to battle with online titans Yahoo, Microsoft and America Online for the loyalty of computer users.
