Feeds

Google prices IPO, names ticker

All a GOOG

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Google has set the pricing for its public flotation. Trading under the stock-ticker GOOG, the company will make 24.6 million shares available for between $108 and $135 a share, of which $14m represents new equity. This represents nine per cent of the company, a stake worth $2.6bn and $3.32bn, which values the company at a minimum of $24bn and as much as $36.25bn.

The flotation is designed to cede as little control as possible to the public, with voting stock confined to Class A shares. That decision has been hailed - by friends of the company in the technology press - as a method of keeping control with the founders, but condemned as a recipe for cronyism, by the business press. The Observer advised them to start from scratch.

However, unlike dotcom era IPOs, Google is minting it in. The company announced that gross revenue for the last quarter was $700.2m, up from $656.1m in the preceding quarter. Declared revenues were up too, to $79.1m. However, the New York Times has pointed out that the profits are heavily camouflaged by stock options; and true profits are much higher. ®

Related stories

Google demotes Coca Cola jingle
Google sued by Planet Goo
Google files Coca Cola jingle with SEC

Intelligent flash storage arrays

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Getting ahead of the compliance curve
Learn about new services that make it easy to discover and manage certificates across the enterprise and how to get ahead of the compliance curve.