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nebbie2004
Senior Googler
Joined: 20 Jun 2004
Location: Dublin, GA
1771.40 GC$
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 Posted: Thu Jun 24, 2004 8:14 am Post subject: Google IPO News |
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| Quote: | As anyone with a computer knows, Google is issuing its Initial Public (stock) Offering in a "Dutch-Auction" format. This means that individual investors will have a short window of time to bid on Google shares in an auction format. As with all auctions, the highest bidders will get the goods. In order to issue public shares, Google had to file detailed plans with the SEC. As with most businesses, especially in the tech world, plans often change when the business or technical environment changes. This week, Google made a few modifications to their original filing with the SEC.
1) Google has lowered the minimum number of shares individuals can bid on to 5 from the traditional 100. This will allow smaller investors the opportunity to participate in the auction by purchasing a smaller block of shares. Google has issued a warning to investors stating that over-enthusiastic bidding might push the price of shares to a cost-price that has no relationship with the actual value of the company, thus pushing the price of shares to unsustainable levels. If this was to happen, speculators and professional investors might choose to short the stock, an action that would burst the balloon and quickly devalue the price of shares.
2) Google is going to outsource its "critical financial functions" which include billing, credit evaluation and collections. This is extremely important to Google as the number of revenue-sharing agreements with individuals, webmasters and other corporations grows exponentially. Google does not have the experience or person-power to track the millions of agreements it has made while it continues to base its bottom line on revenues generated through these agreements. This section of their filing concludes with the statement, "If we do not successfully implement this project, our business, reputation and operating results could be harmed."
3) Google has dropped the venerable brokerage Merrill Lynch from its roster of underwriters. While neither Google or Merrill Lynch are able to discuss details, sources in the financial media cite Merrill Lynch's unwillingness to modify its operating procedures to meet the auction format for such a small profit margin. |
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algodon
Noogle
Joined: 23 May 2004
Location: United Kingdom
523.90 GC$
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intelliot
Site Admin
Joined: 01 May 2004
18653.45 GC$
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| Posted: Sat Jul 31, 2004 6:06 pm Post subject: |
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| Wow, thanks for that info algodon! |
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jjpowers
Junior Googler
Joined: 25 May 2004
Location: Boston
980.48 GC$
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| Posted: Thu Aug 05, 2004 6:00 am Post subject: Google IPO Possible Delay |
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Google may have issued shares and options worth $3.1B illegaly as reported by Reuters. They may have violated laws in 18 states. Employees and consultants of Google are the folks caught in the middle of this inquiry
This may cause a delay in IPO schedule.
Check out source:
http://news.moneycentral.msn.com/category/topicarticle.asp?feed=RTR&Date=20040805&ID=3889098
I have no knowledge of how accurate the report is but it warrants some investigation. |
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