It’s hard for me to understand why a company with $549 MILLION AMERICAN DOLLARS needs to go public. It makes you think they don’t think they will ever make that much money again selling advertising on a search site. I had a look at their prospectus today and one line caught my attention:
“In addition to Microsoft and Yahoo, we face competition from other web search providers, including company ies that are not yet known to us”.
In other words 549 million other guys are now thinking up better ways of searching the internet and one day one of them will out-Google, Google.
Yesterday, Google said it neglected to register 23.2 million shares of common stock and 5.6 million outstanding stock options with securities regulators. An “oversight” that “might” have broken federal and state laws, but they have $549 million dollars to buy their way out of this “oversight”.