After Google launched Chrome last year, Mozilla has decided to have a serious think about whether to continue relying on Google for revenue. Business Week has the full report.

Mozilla Chairman Mitchell Baker notes, “We are physically surrounded by Google,” and it is rather clear why. Mozilla makes a huge sum of money each year (88% exactly, totalling over $75 million) thanks to placing a Google search bar (as per mutual agreement) next to the address bar on their popular browser, Firefox.

Mozilla’s Firefox’s popularity has been growing rapidly over the last two years, firmly holding the #2 spot as the most popular internet browser, behind Microsoft’s Internet Explorer. The more popular Firefox becomes, the more exposure Google gets and therefore the wealthier Mozilla becomes.

This was all perfect, until Google released their very own internet browser, Google Chrome. This started raising doubts over whether Google would re-new their contract with Mozilla when it expires in 2011, instead opting to gain market share and keep all the ad revenue for itself. This leaves Mozilla considering alternative search providers:

There are probably other search engines that would pay us more money

John Battelle also, and crucially, points out that users might be alienated with any change,

It’s possible that Firefox’s adoption rate could decline if Firefox users felt they were getting Microsoft or Yahoo shoved down their throat.

Baker is confident in finding alternative revenue streams however

“There have been more opportunities for money than people think.”

The future is going to be an interesting one.