Google building Amazon Prime competitor, report says

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Updated 4:34 p.m. ET with Google statement

Google may be gearing up to launch an online shopping service that will directly compete with Amazon Prime.

According to TechCrunch, Google is quietly preparing to launch a service called "Google Shopping Express" that will be cheaper than Amazon Prime. Citing one anonymous source, the tech blog claims that an annual subscription could cost $10 to $15 less than Amazon Prime's $79 fee.

TechCrunch speculates that Google might include a same-day delivery from retail chains like Target, Walmart, Walgreens and Safeway, but the blog's sources did not give specifics of what the service might be like.

A spokesperson for Google did not comment on the report and released this statement to CBS News via email:

"We are always working to build a delightful shopping experience for users, in close partnership with retailers, and to empower businesses of all sizes to compete effectively. We will continue to work toward providing technology, tools and traffic to help power the retail ecosystem but have nothing to announce at this time."

Amazon Prime is a subscription service provided by the online retail giant that offers free or discounted shipping, streaming video and access to the Kindle lending library. According to PC World, Amazon has offered same-day delivery services since 2009.