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December 2, 2004 09:52 AM

Google CEO Proud Of Dutch Auction IPO


Excerpt: The chief executive of Google Inc. said the Web search company was "proud" of its recent auction-style initial public offering, but said he did not know if it would change the way companies choose to go public in the future.


The chief executive of Google Inc. said the Web search company was "proud" of its recent auction-style initial public offering, but said he did not know if it would change the way companies choose to go public in the future.

"We're very proud of it," Google Chairman and CEO Eric Schmidt said at an event hosted by BizWorld, a program that teaches entrepreneurship to school children.

Nevertheless, Schmidt said he was not sure if Google had changed the way IPOs work -- responding to an often-asked question in venture capital circles.

Prior to its IPO, Google appeared to have angered Wall Street with its decision to hold an auction that delivered half the usual fees for typical IPOs. Among other things, it also came under fire when a Playboy interview with its founders was published just ahead of the deal.

"Very unhappy people talked to the press," Schmidt said, adding that everyone who wanted shares and properly followed the auction procedure got them.

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Read all 40 posts in the same category of Investment:

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How To Profit On A Weak Dollar - Dec 08, 2004
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SEC: Hedge Fund Advisers Must Register - Dec 06, 2004
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The Insiders Are Selling. But Is That So Bad? - Dec 05, 2004
Fed President: Measured Hikes Ahead - Dec 03, 2004
Funds Take In $14 bln In October - Dec 02, 2004
Dollar Struggles From New Lows - Dec 02, 2004
Why Consumers Hate Mergers - Dec 02, 2004
Nothing Ventured, Everything Gained - Dec 02, 2004
The Right (and Wrong) Way To Protect Yourself Against The Falling Dollar - Dec 01, 2004
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