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Google founders to offload 14 million shares
Page and Brin selling
adfree




msg:1233980
 11:29 pm on Nov 20, 2004 (gmt 0)

[abc.net.au...]

 

dauction




msg:1234010
 4:17 pm on Nov 22, 2004 (gmt 0)

Blaz ethats absolutely untrue .. it is very common for Founders to sell some of their shares after IPO .

Larry and Serg will still own the majority shares even after they sell .

This is nothing more than payday for them after 10 years of hard work..

the sky's falling rhetoric is funny though..they arent dumping shares or folding or any other nonsense, they are selling stock over an 18 Month time frame.... and still maintain the majority position in G

Scarecrow




msg:1234011
 7:46 pm on Nov 22, 2004 (gmt 0)

Wasn't there something special about the owners shares? I vaguely remember reading that although Google went public, the voting classes of the IPO offered shares ensured that the original founders & investors retained voting control? So will these shares be a different class to the IPO shares - or do they revert to a different class? Anyone know?

From the prospectus:

Following this offering, we will have two classes of authorized common stock, Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible at any time into one share of Class A common stock.

...

After our offering, our Class B common stock will have ten votes per share and our Class A common stock, which is the stock we are selling in this offering, will have one vote per share. We anticipate that our founders, executive officers, directors (and their affiliates) and employees will together own approximately 84.8% of our Class B common stock, representing approximately 83.6% of the voting power of our outstanding capital stock. In particular, following this offering, our two founders and our CEO, Larry, Sergey and Eric, will control approximately 38.1% of our outstanding Class B common stock, representing approximately 37.6% of the voting power of our outstanding capital stock. Larry, Sergey and Eric will therefore have significant influence over management and affairs and over all matters requiring stockholder approval, including the election of directors and significant corporate transactions, such as a merger or other sale of our company or its assets, for the foreseeable future. In addition, because of this dual class structure, our founders, directors, executives and employees will continue to be able to control all matters submitted to our stockholders for approval even if they come to own less than 50% of the outstanding shares of our common stock. This concentrated control will limit your ability to influence corporate matters and, as a result, we may take actions that our stockholders do not view as beneficial. As a result, the market price of our Class A common stock could be adversely affected.

hobbnet




msg:1234012
 8:51 pm on Nov 22, 2004 (gmt 0)

One of the earlier employees of google already cashed out and retired at age 26.

<...> a party he threw out here in SF.

Not bad...

[edited by: rogerd at 1:44 am (utc) on Nov. 23, 2004]
[edit reason] No URLs please... [/edit]

walkman




msg:1234013
 11:00 pm on Nov 22, 2004 (gmt 0)

"One of the earlier employees of google already cashed out and retired at age 26.
Here are photos of a party he threw out here in SF. "

so that's how you get chicks?
#*$!? I've been working on my personality angle for years

Chris_D




msg:1234014
 8:05 am on Nov 23, 2004 (gmt 0)

Thanks Scarecrow - I knew that there was something special about the founder's shares!

:)

Chris

Matt Mickiewicz




msg:1234015
 9:37 pm on Nov 23, 2004 (gmt 0)

The founders of Yahoo haven't sold anything close to $1 billion dollars worth of stock each... As far as I know, both have kept almost all of their stock.

alexweb




msg:1234016
 2:01 am on Nov 24, 2004 (gmt 0)

Google founders seem to be just trying to hold the fort till their ship comes in. This is consisitent with their risk-averse sandbox algo mentality where newness and change are now the enemy because they may upset the golden apple cart. These guys are not gonna build a new browser or OS and challenge Microsoft. They don't have the confidence. They're just trying to hang on for dear life while making a mad dash to the finish. They know that when the Internet landscape changes (SE integrated into MS IE) they will be the new Netscape.

Hasn't Bill Gates shown Google's CEO Eric Schmidt twice that he's his Daddy (with Novell and Sun Microsysytems)?

You can bet they're hearing footsteps.

picophd




msg:1234017
 4:32 am on Nov 24, 2004 (gmt 0)

Nah, I don't agree with anyone who thinks that Google is worried about Microsoft, or anything along the same lines.

The web is changing super fast, and with it, the rules of the web and applications generally, not just web applications, are changing, too. And if the folks talking about MS haven't noticed, MS haven't been able to catch up at all with its IE, for example, for years now. Opera has been in use for years already by most net literate people, even if they're few, and now Firefox is used even more, and the few net literate were able to haul a whole campaign for it to be used by many today. What has MS done about all this for years, ever since the trend started with Opera and until we ended up with Firefox now? Nothing.

Same thing goes for PHP and MySQL, versus ASP.net and and accompanying technologies. PHP and MySQL keep gaining more popularity, while ASP is even being dubbed the "dark side" sometimes.

I'm one of the people who can't wait to give up my Windows for Linux. Accordingly, Macromedia and Adobe can be damn sure that on the FIRST day I find acceptable alternatives to Dreamweaver and Photoshop and Illustrator on Linux, I AM switching to Linux with everyone on my team, and dumping Microsoft, Macromedia, and Adobe to whichever markets they want to keep.

Open source software, new innovations (like Google's innovations themselves), ones that even MS with all its might could not come up with, due to corporate and capitalistic greedy loopholes, are changing the rules of the game(s) pretty fast. And I don't see that MS is necessarily catching up or will be able to catch up in the next 5 years. Longhorn must do something groundbreaking and revolutionary, with a new IE, to help MS catch up, and it won't catch up except with mostly newbies anyway.

adfree




msg:1234018
 1:23 pm on Nov 24, 2004 (gmt 0)

By then G might have demonstrated to be able to become a major threat to M if googling out of your desktop or even application becomes possible and publically accepted, celebrated.

ichthyous




msg:1234019
 1:54 pm on Nov 24, 2004 (gmt 0)

I can't believe that anyone would be surprised that the founders would want to sell now while the share price is so bloated. Who wouldn't want to lock in profits while the getting is good? Google is currently a market dominant company, and may stay that way for a while yet. But with Yahoo and MSN now releasing their own very good SEs, will Google be dominant in 5 years? All of the juicy revenue that Google was reaping from selling its results to third parties that didn't have their own native SE's will dry up. This is a very fast moving business, and if they don't find some new way to market their results they are destined to become just one of three to five major SEs out there.

picophd




msg:1234020
 1:59 pm on Nov 24, 2004 (gmt 0)

EXACTLY, adfree.

That's why this place is such a cool place. It's full of cool people who are tuned on the same thought wavelenghts, and those wavelenghts just happen to be--at least sometimes--ahead of their times, and way very intellectual.

Thank you, mate.

And thanks to everyone for having me as a member of this warm, beautiful community, even though I'm too outspoken, blunt, and bratty sometimes. :)

loanuniverse




msg:1234021
 1:55 pm on Nov 30, 2004 (gmt 0)

Diversification is what is driving this sale. Of course investing in Google is risky. If you want safe get a CD or buy a T-Bill. On the other hand, the MS integrated search threat is overblown IMHO, Google has at least one quasi-ally in this {EU competition commissioner}, I would be surprised if they donít fight this.

Microsoft is already facing adverse regulatory action in the EU over multimedia bundling.

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