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Thursday, 23rd October 2003

Google considers online IPO auction

Web Search--Google
Source: Financial Times
"Google considers online IPO auction"
From the article, Google is considering holding a massive online auction of shares early next year in an initial public offering that investment bankers predict could value the internet search-engine company at more than $15bn. An electronic auction would be designed to prevent a recurrence of the sort of financial scandals that have engulfed Wall Street since the collapse of the dotcom bubble, according to a person close to the company...Google executives, led by George Reyes, chief financial officer, met a number of leading investment bankers last week to sound them out about an IPO. The meetings marked the start of a process that is likely to lead to a stock market listing by about March next year, a person familiar with the IPO said. The early discussions have not touched on how much Google is worth. You've got to once again hand it to the marketing geniuses at Google for coming up with an interesting way to go public. Even if they don't use the auction method this is yet another way of keeping the "Google Buzz" at a fever pitch.
See Also: "Google reportedly exploring IPO tactics" (via News.Com)

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