Google files for IPO, finally

By 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.

User Comments: 4

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shnig said:
Lol they only made a profit of 105 dollers? lol somoene change that post!
prashidi said:
Thanks for the correction.
shnig said:
No Problem, always here to help!
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?
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