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AI BUSINESS · MARCH 6, 2026
Perplexity at $24B Is Trying to Buy Google Chrome — And It Might Actually Work
A $400M Series E. One billion monthly queries. And now an active $38B bid for the most strategically valuable piece of software on the internet. Perplexity’s ambition is no longer subtle.
$24B Valuation
$400M Raised
1B Monthly Queries
$38B Chrome Bid
$400M Raised
1B Monthly Queries
$38B Chrome Bid
AR
Alex Rivera
Tech Business & Venture Capital · March 6, 2026
“Chrome has 65% of the browser market. Whoever owns its default search earns billions. Perplexity wants to own it.”
The DOJ Antitrust Story: Why Chrome Is For Sale
In 2025, a US federal court ruled that Google had unlawfully maintained its monopoly in search. The remedy, confirmed and now in execution, required Google to divest Chrome — the browser that delivers search queries to Google’s engine by default.
This is not a fine. This is a forced structural separation. The US government is compelling Google to sell the world’s most-used browser because keeping it was deemed anticompetitive. The default search deal — not the browser itself — is the prize.
WHY CHROME’S DEFAULT SEARCH MATTERS
Google currently pays Apple $20 billion per year to be the default search engine in Safari. Chrome, with 65% browser share, is worth more. Controlling Chrome’s default search is, arguably, controlling the internet’s front door.
What Owning Chrome’s Default Search Is Worth
If Perplexity wins the Chrome acquisition and becomes the default search experience, the addressable market transforms overnight. Chrome accounts for roughly 65% of all global browser activity. That translates to billions of daily search intent signals.
65%
Chrome’s global browser share
$20B/yr
Google pays Apple for Safari default
$200B+
Potential business if default is won
$38B
Perplexity’s active bid
The $38B bid looks audacious against Perplexity’s $24B valuation. It looks like a bargain against what Chrome’s search position generates annually.
Perplexity’s Business Today
The $400M Series E at a $24B valuation closed in March 2026. It is backed by a who’s-who of technology’s most credible investors:
Jeff Bezos
SoftBank
NVIDIA
a16z
IVP
NEA
SoftBank
NVIDIA
a16z
IVP
NEA
Revenue comes from three vectors: $20/month Pro subscriptions, an API for enterprise developers, and direct enterprise agreements. Perplexity is generating meaningful recurring revenue — not yet Google-scale, but growing at a rate that justifies the $24B tag.
The product thesis is clean: users want answers, not links. Perplexity provides cited, synthesised answers to queries. It doesn’t send you to ten blue links and let you figure it out. That distinction is becoming more compelling as the population of AI-native users grows.
The Competition: OpenAI, Apple, Microsoft
Perplexity is not the only party interested in Chrome’s default search position. The competitive landscape includes some of the most powerful technology companies on earth.
| Bidder / Player | Approach | Advantage | Risk |
|---|---|---|---|
| Perplexity | Active $38B acquisition bid | AI-native product, top-tier backers | Valuation mismatch, regulatory scrutiny |
| OpenAI | Also interested in Chrome | Brand recognition, GPT integration | Regulatory complexity, Microsoft tie |
| Apple | Building AI search for Safari | 1.5B+ devices, ecosystem control | Browser position = only iOS/Mac |
| Microsoft / Bing | Browser distribution via Edge | OS integration, enterprise reach | Copilot cannibalises Bing revenue |
| Firefox (Mozilla) | Perplexity exploring distribution | Open-source credibility | Small market share (~3%) |
Why This Could Fail
The bid is not guaranteed to succeed, and the failure modes are specific:
💸 Financing Gap
$38B bid from a $24B company requires massive debt or dilution
⚖️ New Monopoly Risk
DOJ could block a deal that simply transfers search monopoly to AI
🏗️ Engineering Debt
Chrome is among the most complex codebases in existence
📉 Revenue Timing
Monetising default search at scale takes years to execute
But consider the alternative framing: even making the bid is valuable. Every press cycle about Perplexity trying to buy Chrome is a press cycle about Perplexity being the legitimate successor to Google Search. The PR value alone may justify the opening offer.