Lord_Majestic - 3:12 pm on Aug 18, 2004 (gmt 0)

The VC guys needed their money back, Larry and Sergey could probably care less.

VCs did not control the company - founders could have easily overruled that, however from what I have seen it appears that their CEO would have pretty much walked out if they were not going for IPO, add to this that after doing hard and good work employees fancied making a mil or more each - can't really blame them for desire, however it is foolish to try to save a few % on fees only to lose a lot more as the result of revised share issue price - some say auction was meant to establish that price, however matter of fact is that they did release indicative pricing, if nothing all auction should have been higher, but not lower.