Offering frequent news and analysis from the majestic Evergreen State and beyond, The Cascadia Advocate is the Northwest Progressive Institute's unconventional perspective on world, national, and local politics.

Thursday, April 29, 2004

Google Files Long-Awaited I.P.O.

Big technology news today:
Google Inc., the popular Internet search engine company, filed with the Securities and Exchange Commission today to raise as much as $2.72 billion in its long-awaited — and ballyhooed — stock market debut.

Based in Mountain View, Calif., the company has been secretive about both its business activities and its intentions. The S.E.C. filing, which fills nearly 1,000 pages, details plans for an initial public offering that is widely expected to transform Larry Page and Sergey Brin, the former graduate students who started Google just six years ago, into instant billionaires.

In the filing, Google disclosed its earnings and revenues for the first time.

For all of last year, the company said it had net income of $105.6 million on revenues of $961.8 million. So far this year, the company has earned $63.9 million, up sharply from the $25 million in net income it earned in the first three months of 2003.
This New York Times article has more details.

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