Google To Go Public In 2004
According to the Associated Press (AP), Google’s announcement to go public, which it has been mulling over for the past three months, could potentially raise millions of dollars for the company and could rank the search engine among one of the biggest IPOs in technology history.
The move is also expected to raise an estimated $4 billion dollars for investors and the company, and industry analysts are expecting the filing to spur similar potential technology IPOs that have been waiting in the wings while the tech sector rebounds from a devastating deflation.
Google’s announcement to go public is being closely associated with another spotlighted IPO by CIT Group in July 2002, in which the company tallied in an estimated $4.87 million, according to the AP.
XBiz was unable to confirm Google’s plans at the time of this printing, however, the AP reports that between the dates of January 2001 and Dec. 9 of 2003 there were 238 IPOs. Whereas, between 1998 and 2000 there were a total 1,250 IPOs.
Google first expressed interest in going public in October or 2003 on the heels of a press frenzy over a possible merger with Microsoft Corp.
According to reports, Google and Microsoft began their corporate flirtation several months ago. The possible marriage, as unlikely as it seemed at the time, could have been a suitable strategic move for both companies insofar as Microsoft was shopping around for entry into the lucrative advertising search space, and Google, which has profited hugely from of its Adwords search service, was looking to solidify its image as one of the Internet's major players.
Google recently purchased Primedia Inc.'s online advertising unit, making its position as one of the leaders in pay search results even stronger. Google will also supply ads for Primedia's websites, including its About.com sites.
Google's rapid financial success over recent years has raised the bar among similar services, including Overture, which is owned by Yahoo!