GOOG info. Google IPO prices at $85
http://biz.yahoo.com/rf/040818/tech_google_ipo_6.htmlUPDATE - Google raises $1.67 bln in cut-price IPO
Wednesday August 18, 11:46 pm ET
By Nicole Maestri and Lisa Baertlein
(Edits throughout, adds value of company and founders' stakes, background on auction)
NEW YORK/SAN FRANCISCO, Aug 18 (Reuters) - Google Inc., the most popular Internet search engine, raised $1.67 billion on Wednesday in its long-awaited IPO after slashing the price and size of an offer beset by missteps and poor market conditions.
Google sold 19.6 million shares at $85 each, the bottom of a much reduced price range, making paper billionaires of its founders. Its shares, which will trade under the stock symbol GOOG (NasdaqNM:GOOG - News), are expected to debut on the Nasdaq on Thursday.
http://biz.yahoo.com/ap/040818/google_ipo_55.html
Google's Initial Share Price Set at $85
Wednesday August 18, 11:46 pm ET
By Matthew Fordahl, AP Technology Writer
Google's Initial Share Price Set at $85, at Low End of Company Expectations; IPO to Raise $1.67B
SAN JOSE, Calif. (AP) -- Initial shares of Google Inc. were priced late Wednesday at $85, the low end of a range revised downward just hours earlier, humbling expectations for the most ballyhooed Internet company public stock offering since the dot-com boom went bust.
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B8940B209%2DA89B%2D41BF%2D840F%2D9059BFE9CF07%7D
Google's IPO was not a fiasco
Commentary: At the least, Google's got guts
By Bambi Francisco, CBS.MarketWatch.com
Last Update: 12:01 AM ET Aug. 19, 2004 [ Page 1 | 2 ]
SAN FRANCISCO (CBS.MW) -- For all the negative press about what a fiasco the Google IPO process has been, let's give Google credit where credit is due.
Have we forgotten what the goal was here?
Google tried to level the playing field and open the market to the small investor and raise as much money for itself and the growth of its company rather than the bankers' favorite clients.
Google raised $1.66 billion at the end of the day by pricing shares at $85. That's not chump change, and that's what people will remember in the history books. Besides, at such a lowered valuation, it may actually do OK when it begins trading, given its marked discount to its more mature rivals, Yahoo (YHOO: news, chart, profile), eBay (EBAY: news, chart, profile) and Microsoft (MSFT: news, chart, profile).
Who ever said that turning Wall Street on its head was easy, and not fraught with challenges? At least Google (GOOG: news, chart, profile) stuck to its motto of "Do no evil," by trying to democratize the system through a Dutch auction.
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