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Google Finally Files IPO
By WebProNews
Staff Writer
Article Date: 2004-04-29
Search engine Google finally ended mountains of speculation by filing their initial public offering today, April 29, 2004. This means that Google's stock will now be available to the public, although the stock isn't expected to be available for a few months.
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| Let the Google IPO Games begin.... |
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Google hopes to raise $2.7 billion with one of the most anticipated IPOs in high tech industry. The AP reports that "Thursday's filing represents a significant milestone in the 5 1/2-year-old company's evolution from a fun-loving startup to a corporate adolescent that will be held more accountable for how it manages its money."
Also, the filing gives competitors their first opportunity to take a look at Google's finances. Last year, the search engine earned $105.6 million on $962 million worth of revenue.
This year, Google is off to an even faster start. The recently passed first quarter saw the company earn $64 million, more than double last year's $25.8 million first quarter earnings.
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