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Google Exploring Ipo For Next Year
Posted 23 October 2003 - 06:11 PM
Posted 24 October 2003 - 08:28 AM
From the Times of London
From the Financial Times
Google is considering holding a massive online auction of shares early next year in an initial public offering that investment bankers predict could value the internet search-engine company at more than $15bn.
An electronic auction would be designed to prevent a recurrence of the sort of financial scandals that have engulfed Wall Street since the collapse of the dotcom bubble, according to a person close to the company.
It could also slash the underwriting fees paid to investment banks, the person added, and in the process help to break Wall Street's hold on the lucrative IPO business.
Are these guys clever or what?
And speaking of reporting the Google IPO, where are the US papers? :-)
Edited by websage, 24 October 2003 - 08:36 AM.
Posted 24 October 2003 - 12:30 PM
Posted 25 October 2003 - 01:36 PM
And I wonder if Google will be more open to answering the question of why a site isn't ranking well if the person asking is a stockholder.
Posted 25 October 2003 - 02:00 PM
The worse thing G could have done was sold to Microshaft, as the world and his brother wouldn't have trusted the results, when i log ont ot the microsoft website and it says 'good morning old welsh guy' i look out of the window to make sure it daylight
Posted 26 October 2003 - 03:37 PM
Sullivan then asked about Google's plans for an initial public offering (IPO).
Brin answered, "It's something that we debate periodically at board meetings - not every board meeting - every other or every third - and then we move on to the next topic. It's not the most pressing thing for us. We are profitable, so we don't need the cash. But it might be nice to have the currency of being a public company to do acquisitions and things like that. Still, there are significant management distractions involved in being a public company. So, it's always kind of a toss-up. That's not to say we're never going to do it. There's a good chance that eventually we will. The summary is that it could go either way."
Posted 26 October 2003 - 08:51 PM
While the exact details are under wraps, Mr Brin and Mr Page are reckoned to own about a third of Google's stock. If Wall Street decides the company is indeed worth $15bn or more - the price tag that is generally being put on it - they could each be worth more than $2.5bn.
For the young idealists, this contains a certain irony. Turn to "Anatomy of a Large-Scale Hypertextual Web Search Engine", the paper in which they originally laid out the blueprint for Google, and you get an idea of their aversion to the commercialisation of the internet.
Under the heading "advertising and mixed motives", they write: "The goals of the advertising business model do not always correspond to providing quality search to users." The chance to make money selling advertising on a search engine creates "mixed incentives", they add, since users can never be completely sure the results they are getting are completely unbiased. The world, it seems, needs at least one search engine "that is transparent and in the academic realm" to guarantee a completely independent service.
Given its increasingly commercial nature, that service may not be Google...
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