Welcome to WebmasterWorld Guest from 54.224.230.193

Forum Moderators: goodroi

Message Too Old, No Replies

Google co-founders hold 16 percent stake in company

     
7:12 pm on May 22, 2004 (gmt 0)

Senior Member

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

joined:June 28, 2002
posts:4154
votes: 0


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...]

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

Senior Member

WebmasterWorld Senior Member 10+ Year Member

joined:Sept 10, 2001
posts:1459
votes: 0



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 :)

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

Senior Member

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

joined:June 28, 2002
posts:4154
votes: 0


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

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

Senior Member

WebmasterWorld Senior Member 10+ Year Member

joined:Oct 1, 2002
posts:1580
votes: 0


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!

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

Preferred Member

10+ Year Member

joined:Nov 22, 2000
posts:487
votes: 0


percentages, you try asking for millions, upon millions of dollars in venture capital and see how much of the company you get to keep.
3:28 pm on May 27, 2004 (gmt 0)

Senior Member

WebmasterWorld Senior Member 10+ Year Member

joined:Apr 21, 2001
posts:2489
votes: 0


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.

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

New User

10+ Year Member

joined:Mar 9, 2004
posts:4
votes: 0


I am hearing an $80 price per share, is that what you are hearing?
4:26 pm on June 1, 2004 (gmt 0)

Senior Member

WebmasterWorld Senior Member 10+ Year Member

joined:June 5, 2001
posts:2724
votes: 1


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

Junior Member

10+ Year Member

joined:Feb 10, 2002
posts:75
votes: 0


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

Senior Member

WebmasterWorld Senior Member 10+ Year Member

joined:May 21, 2001
posts:2149
votes: 0


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.

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

Senior Member

WebmasterWorld Senior Member 10+ Year Member

joined:June 16, 2003
posts:1298
votes: 0


>>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.