Google launched an update to its Penguin algorithm called Penguin 2.0 in May 2013 to crack down on spam more aggressively. The update looked more deeply at link profiles and devalued numerous link networks, low quality links, and certain types of anchor text. While the initial rollout impacted around 2% of queries, Google indicated the update would become stronger over time. Sites using unethical link building or spammy tactics were likely to see negative impacts, while ethically run sites would hold steady or benefit. The document provides analysis of Penguin 2.0's effects and implications.