Search juggernaut wants to raise $2.7 billion
By ABC12/The Associated Press
San Francisco — (04/30/04)-- Internet search engine leader Google Inc. filed its long-awaited IPO plans Thursday, thumbing its nose at Wall Street's traditions even as the company prepares to cash in on its meteoric success.
The actual selling of shares on the stock market could still be months away.
Google says it hopes to raise $2.7 billion. Anticipation surrounding the stock offering has been at a level not seen for the high-tech sector since the dot-com bubble burst four years ago.
Unlike many of its failed, once publicly-traded predecessors, Google is profitable. The five-and-a-half-year-old company tells the Securities and Exchange Commission that it earned more than $100 million last year, and $64 million in the first quarter of this year.
(Copyright 2004 by The Associated Press. All Rights Reserved. This story will be only available online for 14 days from its original publishing date.)
Im definatly interested in getting me a lil piece. I think google will be the next "yahoo" stock.
