HiFi Geek

 
CONTROVERSIES AGAINST THE SITE GOOGLE

Overture Services sued Google for stealing their “idea” of Ad Words service but was settled out-of-court, as Google gave them some shares. Therefore with many of its rivals failing in the Internet marketplace, Google rose in stature generating revenue.

ORIGIN OF THE WORD “GOOGLE”

The word “Google” comes from a misspelling of the word “googol”, meaning 10100 which was represented by a 1 followed by one hundred zeros. As its use increased in everyday language, the verb “Google”, was added to the Merriam Webster Collegiate Dictionary and the Oxford English Dictionary in 2006, meaning “to use the Google search for obtaining information on the Internet.”

PUBLICITY OF THE SITE AND ITS FINANCING

The first funding for Google was secured in 1998 with a US$100,000 contribution from Andy Bechtolsheim, co-founder of Sun Microsystems. After six months, a larger funding was secured with the rival venture capital firms Kleiner Perkins Caufield & Byers and Sequoia Capital. 

Though, Google was a rarely a co-investor. On 19 August 2004, took place the Google IPO with 19,605,052 shares offered at US$85 per share out of which 14,142,135 were floated by Google, and the rest 5,462,917 were offered by existing stockholders. Google got a market with the sale of US$1.67 billion leading to capitalization of more than US$23 billion. Almost 271 million shares remained with Google. Many employees became instant millionaires. Even Yahoo!, competitor of Google, benefited from the IPO as it had 8.4 million shares of Google as of 9 August 2004.

The performance of Google after its first IPO launch has gone well, hitting the shares with US$700 as a result of strong sales and earnings in the market and the release of new features eg. the desktop search function and the I Google personalized home page. This was primarily because of individual investors rather than large institutional investors and mutual funds.

The company is said to be on the list as the NASDAQ stock exchange