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Google co-founders hold 16 percent stake in company

     

Shak

7:12 pm on May 22, 2004 (gmt 0)

WebmasterWorld Senior Member shak is a WebmasterWorld Top Contributor of All Time 10+ Year Member



SAN FRANCISCO (AP) - Google Inc. co-founders Larry Page and Sergey Brin each own nearly 16 percent of the Internet search engine leader that they launched nearly six years ago - stakes expected be worth at least $3 billion apiece after the company's initial public offering of stock.

[newsobserver.com...]

gopi

4:03 am on May 23, 2004 (gmt 0)

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Other Google insiders in line for a major windfall include the company's CEO, Eric Schmidt, with a 6 percent stake; board member K. Ram Shriram, with a 2.2 percent stake; and the company's senior vice president of worldwide sales and field operations, Omid Kordestani, with a 1.9 percent stake.

Lucky Fellas! - That ram shriram guy bought the 2.2% with a paltry 300k investment , hmm :)

Shak

8:16 am on May 23, 2004 (gmt 0)

WebmasterWorld Senior Member shak is a WebmasterWorld Top Contributor of All Time 10+ Year Member



and the company's senior vice president of worldwide sales and field operations, Omid Kordestani, with a 1.9 percent stake.

Had the pleasure of meeting Mr. Kordestani at last years Google Xmas party. What a down to earth kinda guy.

He actually took his Digital Camera out and had a shot taken with a few WebmasterWorld members. (better drop an email to get a signed copy of that then)

Shak

percentages

4:35 am on May 27, 2004 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



I'm surprized.....I expected they would have at least 51% between them! To IPO I figured it more likely they held over 70% and would be selling off an amount that still left them firmly in control.

To cash out with a collective starting position of 32% doesn't sound like a good decision to me!

JeremyL

5:38 am on May 27, 2004 (gmt 0)

10+ Year Member



percentages, you try asking for millions, upon millions of dollars in venture capital and see how much of the company you get to keep.

caine

3:28 pm on May 27, 2004 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



Eric Schmidt, with a 6 percent stake = $2.25Bn. USD.

If my memory serves me correctly!

He was larry and Sergey's lecturer at Stanford, and was to the first to back them financially once they had dropped out of School. Fair play.

Internethydraulics

8:54 pm on May 29, 2004 (gmt 0)

10+ Year Member



I am hearing an $80 price per share, is that what you are hearing?

EliteWeb

4:26 pm on Jun 1, 2004 (gmt 0)

WebmasterWorld Senior Member eliteweb is a WebmasterWorld Top Contributor of All Time 10+ Year Member



Thats a nice chunk of shares. Good to hold onto a nice huge chunk if theyre gonna let the others take control over it :D

alex_h

9:43 pm on Jun 4, 2004 (gmt 0)

10+ Year Member



They still have control... Read the filing... They've setup two classes of stock, and given themselves absolute control over the company. Despite selling to the public, and the VCs, and everyone else, they are going to take almost $3b from the public, and won't let the owners have a say, just them.

Chris_R

4:10 pm on Jun 6, 2004 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



Yes - Alex is right - they get 10 shares for everyone elses.

So even at 16%

16*10=160

100-16=84

So owning 16% of that class gives a huge majority

In fact - as long as they (they 10x times share holders) own 9.5% of the company - they still have control.

Chndru

1:58 pm on Jun 9, 2004 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



>>In fact - as long as they (they 10x times share holders) own 9.5% of the company - they still have control.

mm. As long as their combined share is more than 9.09% (together, now that they have ~32%), assuming no one else is offered Class A stock, they would have the veto.

 

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