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April 29, 2004

Google files IPO, as predicted

default — by TDavid @ 5:33 pm PST

No idea on the price of shares yet, but it is official: Google is going public:

Internet search engine leader Google Inc. filed its long-awaited IPO plans Thursday, thumbing its nose at Wall Street’s traditions even as the company prepares to cash in on its meteoric success.

Founders Page and Brin still want to hold onto some cards:

To insulate themselves from outside pressure, Page and Brin are creating a two-class stock hierarchy designed to give them effective veto power. The company is selling Class A common stock to the public, but Page and Brin will control Class B stock, which will have 10 times the voting power.

I am interested in buying some of this stock but of course it will depend on what the price tag turns out to be.

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