Saturday, May 1, 2004

Google Plans Auction-Style IPO: "Morgan Stanley and Credit Suisse First Boston will lead the deal, according to the SEC filing. As expected, Google will take the unusual step of auctioning its shares.

"'An auction is an unusual process for an IPO in the United States,' the company said in its S1 filed with the SEC. 'Our experience with auction-based advertising systems has been surprisingly helpful in the auction design process for the IPO. As in the stock market, if people try to buy more stock than is available, the price will go up. And of course, the price will go down if there aren't enough buyers.'

"With Google, 'unusual' is the operative word. In its Thursday filing, the Mountain View, Calif., company took pains to caution potential investors that 'Google is not a conventional company. We do not intend to become one.'"

No comments:

Blog Archive

2013

You don't launch a popular blog,
you build one.
Seth Godin