Google Penguin 2.0 is live now as just announced 7 hours ago by Google Web Spam Engineer Matt Cutts. As we all know that first update was Penguin 1 on April 24, 2012 which impacted about 3.1% of queries, after that small updates came on May 26, 2012 (less than 0.1%) and October 5, 2012 (0.3% of queries).

As expected and announced by Matt Cutts for upcoming penguin update on twitter, This is the first major update which is being called as Penguin 2.0 (officially) or Penguin 4.0 (As per number of updates by Google) rolled out today on May 22, 2013 has impacted 2.3% of queries that a regular user might notice.

Matt Cutts announced on twitter:

As expected, many webmasters started to report spam low quality sites ranking in top 10 results after the update, in response to which Matt Cutts provided SPAM REPORT FORM, same like it was after penguin 1.0 update to report the sites which penguin 2.0 missed. Webmasters can report all low quality spam sites via this form.

Penguin 2.0 is designed to target deeper or lower level pages of a site and not only the home page or top level . Many people have observed increase in keyword ranking and many have downfall. We have observed that Google has given importance to social media in this update.