Google's executive chairman Eric Schmidt has admitted that the search giant should have put more effort into a Facebook-alike social network earlier.

In an interview with CNN, former CEO Schmidt expressed his frustration that his company had not worked on a more personal approach to the internet earlier.

"Fundamentally, what Facebook has done is built a way to figure out who people are. That system is missing in the internet as a whole. Google should have worked on this earlier," said Schmidt.

Resources

"I think that's the area where I would have put more resources, developing these identity services and ranking systems that go along with that. That would have made a big difference for the internet as a whole," he added.

Facebook has emerged as a true rival to Google web dominance, despite concerns over privacy.

With Google+ showing promising early signs, the question remains: could Facebook's social networking market share have been impacted if Google had got its act together earlier.

Via CNN

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