« NetIQ acquires WebPosition | What is "organic" search and how can it help your company? »
May 15, 2004
Google Announces “Online Auction Style” IPO
By Brent Winters
Google recently announced that it expects to raise as much as $2.7 Billion in its initial public offering. The long awaited IPO announcement came with a twist. Google has chosen to shun the traditional Wall Street IPO approach of selling shares, but will instead sell them via a Dutch style online auction. Morgan Stanley and Credit Suisse First Boston will underwrite the process.
In Google’s April 29th SEC filing, 2003 revenues were reported as $961 million with a net profit of $103 million. For the first quarter of 2004, Google reported sales of $389.6 million. This is an increase of 118 percent from the previous year. Net income was $64 million, up 148 percent compared to the first quarter of 2003.
← What is this?
