Amazon Swaps Product Ads for Text Ads, Challenging Google

Amazon (AMZN) announced it will shut down its Product Ads program, challenging search giant Google (GOOGL). The mega online retailer is ending its pay-per-click advertising program that helps smaller businesses drive traffic to their own websites. Product Ads allow sellers to buy advertising space on Amazon, even if they are not on the e-commerce retailer's online marketplace platform. Product Ads appeared with product photos under Amazon search results. Instead, Amazon is swapping the program with a new Text Ads program. The simple text ads run alongside product searches. This move to Text Ads could challenge Amazon rival company, Google. The shift will likely push Google ads off of the online retailer's site. TheStreet's Kurumi Fukushima reports in New York.