Today, 17 years ago, Google made a new history by taking the floor on the stock market of the United States capital market. The initial public offering (IPO) was carried out by Google on August 19, 2004.
Google’s IPO was eagerly awaited by many investors at that time even though the company was still six years old.
This enthusiasm emerged after the dimming of the phenomenon of the “dot-com bubble”, a term that refers to a time when there was a lot of investment speculation for internet companies in the period 1995-2000.
Google IPO Price 85 US Dollars
During the IPO, Google released 19 million shares with a price per share of 85 US dollars and a valuation of 23 billion US dollars at that time.
Now that value has crossed the 2,708 US dollar mark at the close of the market on August 18, 2021.
In 2014, the price per share of Google will initially be set at between 108-135 US dollars. However, Google lowered the price because the IPO did not go well.
Many investors are said to be delaying the purchase of shares because Google uses an auction scheme to sell shares.
On the first day of trading, Google shares rose 18 percent. Quoting from the CNN archive, Google raised funding of 1.67 billion US dollars.
From these acquisitions, as much as 1.2 billion was plotted for the company and 473 million US dollars for Google executives and investors who released their shares.
Google Had a Stock Split
In 2014, Google then split its stock price and then restructured the company by establishing a holding company called Alphabet Inc a year later.
Summarizing from Yahoo Finance, Google’s stock price has increased on average 24.8 percent per year since its IPO in 2004.
In 2020, Google’s parent company became the third most valuable US company with a valuation of more than 1 trillion US dollars.
Compiled from Companies Market Cap, Alphabet Inc’s current capitalization value reaches 1.816 trillion US dollars.
With this achievement, Alphabet Inc joins Apple and Microsoft as the most valuable US company. Alphabet Inc’s coffers are increasingly mounting after reaping revenue of 55.3 billion US dollars in the first quarter of 2021.
This number is up 34 percent over the same period last year. In the same period, Alphabet Inc. made a profit of 18 billion US dollars.
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