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Google files for IPO, finally

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On April 29, 2004, 5:34 PM

The long awaited IPO from Google finally became a reality today, the company hopes to raise as much as $2.7 billion on an unusual public offering where the number of shares that will be offered nor the range in price for those shares has been disclosed.

[COLOR=#1951B9]In an unusual provision for a technology company, Google will create two classes of shares with different voting rights, a move that aims to guarantee that founders Larry Page and Sergey Brin will maintain decision-making authority. Such structures have proven beneficial in media companies, such as The New York Times, the filing states.[/COLOR]

With the filing however, Google was on the obligation to release its financial results for the first time. The company generated $961.9 million in revenue in fiscal 2003 with a net profit of $105.6 million.

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4 comments

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  1. April 30, 2004 6:36 PM
    shnig said:
    Lol they only made a profit of 105 dollers? lol somoene change that post!
    Reply
  2. April 30, 2004 10:46 PM
    prashidi said:
    Thanks for the correction.
    Reply
  3. May 1, 2004 9:47 AM
    shnig said:
    No Problem, always here to help!
    Reply
  4. May 1, 2004 2:12 PM
    SNGX1275 said:
    It would seem to me that Google has reached the Mature stage of the growth cycle (as opposed to growth). So can someone tell me why it would be a good investment?
    Reply

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