Word: brin
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Dates: during 2000-2009
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Searching For Billions For the past six months, Silicon Valley has been buzzing with the prospect of tech's first blockbuster public offering since the dotcom crash: search engine juggernaut Google's IPO is expected in a couple of weeks. But Google founders Larry Page and Sergey Brin seem determined to spoil the party. Last week the company gave an unusually bullish official estimate of its opening share price: $108 to $135 per share, or more than 150 times annual profit per share. Historically, most large companies average about one-seventh of that. Google watchers were split on the reason...
...their attempt to create a corporate utopia, founders Sergey Brin and Larry Page are creating two stock classes--one for themselves and one for the rest of us, who must bid through what's known as a Dutch auction. For a variety of reasons, it's not a stock you need to rush...
There are worse role models than Buffett. But many find it disconcerting that the two classes of stock will allow the pair to sell most of the company if they choose to, yet retain voting control. The stock that Page and Brin keep will have 10 votes for every one that common shareholders get. Dual-class stock is rare, though it exists at companies like Dow Jones, Viacom and Buffett's Berkshire Hathaway. Although some of these stocks perform well, activists dislike the structure...
...management team distracted by a series of short-term targets is as pointless as a dieter stepping on a scale every half-hour." THE GOOGLE "OWNER'S MANUAL," a statement letter offered by Google founders Larry Page and Sergey Brin to potential investors, in advance of the company's initial public offering of stock...
...will of course be determined by how Google and its patrons re-invest their spoils and how they adapt to the market for information that is changing and reforming beneath our feet. One thing we do know is that the 30-something founders of Google, Larry Page and Sergey Brin, are doing everything they can to retain control of the company that they launched when they were getting their PhDs at Stanford, in 1997. They will still own about a third of the corporation and there will be two tiers of stock so that not all votes are created equal...