Word: brin
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...search engine's complex Dutch auction got the stock at $85 a pop, $23 less than the original lowest price expected, then saw it rise more than 27% in the first two days of trading. That put the stock at $108 - exactly where co-founders Larry Page and Sergey Brin advised it would be. Along with CEO Eric Schmidt, Page and Brin remain fully in control of the company they started at Stanford. Each of their shares counts for 10 votes compared...
...Many would-be investors also griped that they had too little information to make a buying decision. Brin and Page offered precious few details as to how the cash injection would be invested or how the company would fend off rivals like Yahoo! Instead, the founders simply asked prospective buyers to ?trust us.? In a post-Enron world, could someone really make trust a central investment criterion...
...their next trick: taking on Wall Street pros at their own game and, improbably, coming out on top. Although much media coverage of Google?s Initial Public Offering portrayed it as a debacle, it was anything but. Brin and Page defied conventional wisdom by launching an IPO that marginalized middlemen and flustered investment bankers. The end result of its Dutch-auction: the company raised $1.67 billion in cash and millions for its individual employees. But it wasn?t without some turbulence. Brin and Page ran afoul of the SEC, reduced the number of shares sold and slashed the offering...
...Brin and Page appear to be a good bet. They?d somehow managed to grow an internet juggernaut in plain sight while the rest of the dotcommers were selling off their Aeron chairs on eBay. Most of us were astonished to learn just how big and profitable the company had become when it unveiled its numbers last fall. Who knew that those proliferating ?sponsored links? could be a billion-dollar business, with fat margins to boot...
...brave investors need only to take a deep breath and assume that the future is still bright for Google. Brin and Page won't offer much in the way of assurances because they haven't a clue about what the future holds. That might not be what Wall Street wants to hear, but the founders don?t seem to care. They?d rather mint money by trusting their gut. So far, so good: they?ve made billions, retained control of their company, and kept the investment bankers at bay. If it seemed impossible, that?s because, well, it pretty much...