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04-29-2004, 06:58 PM #1
Google to Go Public in $2.7 Billion IPO
Thursday April 29, 7:29 pm ET
By Lisa Baertlein
SAN FRANCISCO (Reuters) - Google Inc, whose name is synonymous with Internet searches, on Thursday said it planned to go public by selling $2.7 billion in stock through a novel online auction in the most-anticipated Internet IPO since Netscape in 1995.
The planned initial public offering promised to enrich the founders and early backers of the unconventional six-year-old company, which posted revenue of almost $1 billion last year.
It also set the stage for a new round of competition for Internet advertising dollars between Google and deep-pocketed rivals Microsoft Corp. and Yahoo Inc.
In keeping with Google's quirky culture, co-founders Sergey Brin and Larry Page promised in an "owners manual" for prospective investors that its debut as a public company would not change its culture. In doing so, they repeated the company mantra: "Don't Be Evil."
An online auction, never thought of ebay as a broker
Last edited by HTML; 04-29-2004 at 07:11 PM.
04-29-2004, 07:51 PM #2
Due to the fact that Google has over 500 option holders they must now file an S-1. IMHO it is because they must now file anyway they decided to announce the IPO at this time.
I just came across a special edition Yahoo Finance is doing, I have not begun checking it all out but it looks like some awesome coverage.