Google slashes IPO price range

[rawstory]

As found on The Raw Story, http://rawstory.com

NEW YORK (Reuters) - Google Inc., the Web search engine, on Wednesday slashed the price range on its eagerly awaited initial public offering to between $85 and $95 per share from $108 to $135 per share.

Google also said shareholders are reducing the number of shares they plan to sell to 5.5 million, a reduction of about 6.1 million shares, or more than 50 percent, in light of the lowered price.

Google said it still plans to sell about 14.1 million shares.

The Mountain View, California-based company disclosed the changes in a statement posted on its IPO Web site, http://www.ipo.google.com.

The changes reduce the maximum size of the IPO to about $1.9 billion, and the potential maximum valuation of the entire company to less than $26 billion, a decline of more than $10 billion, based on securities filings.

http://www.reuters.com/newsArticle.jhtml;jsessionid=GUVL0PHEFKRB4CRBAE0CFFA?type=businessNews&storyID=6004506

http://news.bbc.co.uk/2/hi/business/3575680.stm

[Seabiscuit]

1. Anyone here thing Google will be a good investment?

n/t

[KeepItReal]

2. They are a profitable company....

"it had sales of almost $1 billion and earnings of more than $100 million last year and first-quarter profit in 2004 more than double that from the same quarter of the prior year"

http://www.washingtonpost.com/wp-dyn/articles/A58958-2004Jun21.html


As long as they (Google) innovate, acquire companies with technologies they may want, and stay out of the news for bad stuff, they should be ok. Assuming web advertising market doesn't go into a depression, that is.

There's a competitor called IceRocket.com that I hope Google either acquires or licenses the technology for presenting seach results...

I'm rooting for Google, even though Ameritrade says I'm "not qualified" to bid on the IPO, after years of being a trader though them.

[Yavin4]

3. It's Over-Hyped

Almost any company can design such a web portal. Sure, it will be a decent company, but it won't be huge.