Updated: Google will launch a Web browser called Chrome that will take on Microsoft’s Internet Explorer and apparently Mozilla’s Firefox, which the search giant essentially funds.

In an odd leak, Google sent Google Blogoscoped a comic book outlining the technology in its Chrome browser. The leak was confirmed by Kara Swisher and the Wall Street Journal (see the full comic book via Swisher). Philipp Lenssen outlines the following technical details (Techmeme):

* Google’s browser will be open source;
* Chrome will include a JavaScript Virtual Machine built from scratch;
* Tabs will be moved around;
* The browser has an address bar with auto-completion.
* There’s a privacy feature like IE has;
* And Google aims to be proactive about fighting phishing and malware attacks.

Update: Google confirmed that Chrome will launch on Tuesday in a beta that will cover 100 countries. Google said on its blog:



So what does all of this mean and why is Google aiming to target a crowded browser market?

For starters, Google obviously thinks that it can grab share quickly and browser customers are valuable. Just look at the folks still using Netscape–some customers are lifers. If you buy the argument that the browser will ultimately serve as an operating system–or at least be the vehicle to tap into the OS–Google will have to be a player. Double bonus for Google if it connects Chrome, Desktop and Android.

Meanwhile, it’s really unclear what Google’s move means for Mozilla. Google has reupped with Mozilla to occupy Firefox’s search box through 2011. And Google practically bankrolls Mozilla and that won’t change–for now. Now Google could be construed as going hostile. The reality may be different, however. Google may want to launch Chrome to see how much share it can grab in the browser market. Perhaps Google views Chrome and Firefox as a nice IE tag team combination.

Adrian Kingsley-Hughes notes:



Firefox currently has 19 percent market share according to Janco Partners and IE’s market share has fallen to 58.5 percent. Meanwhile, Google Desktop has a 4 percent share.



* Google and Mozilla can grab collectively grab share from IE;
* If Google is unsuccessful it will at least have a business unit to acquire Mozilla Corp.;
* The Mozilla and Chrome code bases could ultimately merge;
* The more browsers targeting IE is a win for Google.

In other words, Google is launching a browser, but the plan is open ended. The only thing that is certain is that Google wants IE’s market share to fall further. If Google’s browser grabs 10 percent market share in a year it’s likely to take it from IE, which is finishing up its latest effort (right). And if Google’s Chrome isn’t a hit it could be a vehicle to acquire Mozilla. The Journal called Google’s browser play risky, but that’s debatable. Why not toss a browser out there and see what happens?

Update 2: After giving this Google browser move some thought I reckon that Opera is in for a world of hurt. The browsers on my desktop are getting crowded and after IE, Firefox and Google there won’t be room for Opera, which is already a stretch as the third browser download for me. Another casualty: Safari for Windows. Safari will likely be fine for the Mac, but Google’s Chrome will be a threat there too.