Apparently, the word "Google" doesn't translate easily into Chinese. According to a recent Bloomberg report, one of the reasons why Google has failed to make inroads in China -- one of the world's fastest growing internet markets -- is because of a simple language barrier.

"G-o-o-g-l-e is not a normal Chinese spelling and people don't pronounce it right,'' Kai-fu Lee, Google's president for China, said. "Most people call us 'go go.'"

That sentiment was shared by Charley Kan of Mediaedge:cia, part of WPP. According to Kan, "very few people [in China] know Google and what they stand for."

That means Google has little penetration with China's 162 million internet users and even less brand recognition with the country's 1 billion-plus total population.

Like Google, Yahoo! has also struggled in China, where Baidu controls 61 percent of the market. But despite the relative disadvantages, the potential of the Chinese market hasn't stopped American firms from trying. Most recently, IAC boss Barry Diller said the company planned to up its investment in the country. However, IAC said it would likely partner with a major Chinese newspaper before launching Ask in China.