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Google's New Price







Google's New Price

Google's New Price 08/18/2004 01:04 PM

  • Reuters: Google Slashes IPO, SEC OK Expected Today. Google Inc. slashed the size of its closely watched initial public offering nearly in half to less than $2 billion on Wednesday, splashing cold water on what has been touted as the hottest Internet IPO in years.
  • Cold water, no. But definitely a well-deserved rebuke by the investor community that was being asked to pay way too much in the first place. There's been a significant whiff of greed in the Google IPO saga, combined with some unfortunate arrogance on the part of the company. I'm glad to see that investors didn't buy the hype beyond a fairly sensible point. Even $80 sounds a little high to me, but it's at least in the not-totally-insane range.




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