In February 2003, Google acquired Pyra Labs, owner of Blogger, a pioneering and leading web log hosting website. Some analysts considered the acquisition inconsistent with Google's business model. However, the acquisition secured the company's competitive ability to use information gleaned from blog postings to improve the speed and relevance of articles contained in a companion product to the search engine, Google News.
At its peak in early 2004, Google handled upwards of 84.7% of all search requests on the World Wide Web through its website and through its partnerships with other Internet clients like Yahoo!, AOL, and CNN. In February 2004, Yahoo! dropped its partnership with Google, providing an independent search engine of its own. This cost Google some market share, yet Yahoo!'s move highlighted Google's own distinctiveness, and today the verb "to google" has entered a number of languages (first as a slang verb and now as a standard word), meaning, "to perform a web search" (a possible indication of "Google" becoming a genericized trademark).
Wednesday, November 11, 2009
Financing and initial public offering
The first funding for Google as a company was secured in August 1998 in the form of a $100,000USD contribution from Andy Bechtolsheim, co-founder of Sun Microsystems, given to a corporation which did not yet exist.
On June 7, 1999, a round of equity funding totalling $25 million was announced[25]; the major investors being rival venture capital firms Kleiner Perkins Caufield & Byers and Sequoia Capital.
In October 2003, while discussing a possible initial public offering of shares (IPO), Microsoft approached the company about a possible partnership or merger.[citation needed] However, no such deal ever materialized. In January 2004, Google announced the hiring of Morgan Stanley and Goldman Sachs Group to arrange an IPO. The IPO was projected to raise as much as $4 billion.
On April 29, 2004, Google made an S-1 form SEC filing for an IPO to raise as much as $2,718,281,828. This alludes to Google's corporate culture with a touch of mathematical humor as e ≈ 2.718281828. April 29 was also the 120th day of 2004, and according to section 12(g) of the Securities Exchange Act of 1934, "a company must file financial and other information with the SEC 120 days after the close of the year in which the company reaches $10 million in assets and/or 500 shareholders, including people with stock options." Google has stated in its annual filing for 2004 that every one of its 3,021 employees, "except temporary employees and contractors, are also equity holders, with significant collective employee ownership", so Google would have needed to make its financial information public by filing them with the SEC regardless of whether or not they intended to make a public offering. As Google stated in the filing, their, "growth has reduced some of the advantages of private ownership. By law, certain private companies must report as if they were public companies. The deadline imposed by this requirement accelerated our decision." The SEC filing revealed that Google turned a profit every year since 2001 and earned a profit of $105.6 million on revenues of $961.8 million during 2003.
In May 2004, Google officially cut Goldman Sachs from the IPO, leaving Morgan Stanley and Credit Suisse First Boston as the joint underwriters. They chose the unconventional way of allocating the initial offering through an auction (specifically, a "Dutch auction"), so that "anyone" would be able to participate in the offering. The smallest required account balances at most authorized online brokers that are allowed to participate in an IPO, however, are around $100,000. In the run-up to the IPO the company was forced to slash the price and size of the offering, but the process did not run into any technical difficulties or result in any significant legal challenges. The initial offering of shares was sold for $85 a piece. The public valued it at $100.34 at the close of the first day of trading, which saw 22,351,900 shares change hands.
Google's initial public offering took place on August 19, 2004. A total of 19,605,052 shares were offered at a price of $85 per share. Of that, 14,142,135 (another mathematical reference as √2 ≈ 1.4142135) were floated by Google and 5,462,917 by selling stockholders. The sale raised US$1.67 billion, and gave Google a market capitalization of more than $23 billion. The vast majority of Google's 271 million shares remained under Google's control. Many of Google's employees became instant paper millionaires. Yahoo!, a competitor of Google, also benefited from the IPO because it owns 2.7 million shares of Google.
On June 7, 1999, a round of equity funding totalling $25 million was announced[25]; the major investors being rival venture capital firms Kleiner Perkins Caufield & Byers and Sequoia Capital.
In October 2003, while discussing a possible initial public offering of shares (IPO), Microsoft approached the company about a possible partnership or merger.[citation needed] However, no such deal ever materialized. In January 2004, Google announced the hiring of Morgan Stanley and Goldman Sachs Group to arrange an IPO. The IPO was projected to raise as much as $4 billion.
On April 29, 2004, Google made an S-1 form SEC filing for an IPO to raise as much as $2,718,281,828. This alludes to Google's corporate culture with a touch of mathematical humor as e ≈ 2.718281828. April 29 was also the 120th day of 2004, and according to section 12(g) of the Securities Exchange Act of 1934, "a company must file financial and other information with the SEC 120 days after the close of the year in which the company reaches $10 million in assets and/or 500 shareholders, including people with stock options." Google has stated in its annual filing for 2004 that every one of its 3,021 employees, "except temporary employees and contractors, are also equity holders, with significant collective employee ownership", so Google would have needed to make its financial information public by filing them with the SEC regardless of whether or not they intended to make a public offering. As Google stated in the filing, their, "growth has reduced some of the advantages of private ownership. By law, certain private companies must report as if they were public companies. The deadline imposed by this requirement accelerated our decision." The SEC filing revealed that Google turned a profit every year since 2001 and earned a profit of $105.6 million on revenues of $961.8 million during 2003.
In May 2004, Google officially cut Goldman Sachs from the IPO, leaving Morgan Stanley and Credit Suisse First Boston as the joint underwriters. They chose the unconventional way of allocating the initial offering through an auction (specifically, a "Dutch auction"), so that "anyone" would be able to participate in the offering. The smallest required account balances at most authorized online brokers that are allowed to participate in an IPO, however, are around $100,000. In the run-up to the IPO the company was forced to slash the price and size of the offering, but the process did not run into any technical difficulties or result in any significant legal challenges. The initial offering of shares was sold for $85 a piece. The public valued it at $100.34 at the close of the first day of trading, which saw 22,351,900 shares change hands.
Google's initial public offering took place on August 19, 2004. A total of 19,605,052 shares were offered at a price of $85 per share. Of that, 14,142,135 (another mathematical reference as √2 ≈ 1.4142135) were floated by Google and 5,462,917 by selling stockholders. The sale raised US$1.67 billion, and gave Google a market capitalization of more than $23 billion. The vast majority of Google's 271 million shares remained under Google's control. Many of Google's employees became instant paper millionaires. Yahoo!, a competitor of Google, also benefited from the IPO because it owns 2.7 million shares of Google.
History of Google
Google began in January 1996 as a research project by Larry Page and Sergey Brin, a Ph.D. student at Stanford[1] working on the Stanford Digital Library Project (SDLP). The SDLP's goal was “to develop the enabling technologies for a single, integrated and universal digital library." and was funded through the National Science Foundation among other federal agencies. In search for a dissertation theme, Page considered—among other things—exploring the mathematical properties of the World Wide Web, understanding its link structure as a huge graph. His supervisor Terry Winograd encouraged him to pick this idea (which Page later recalled as "the best advice I ever got") and Page focused on the problem of finding out which web pages link to a given page, considering the number and nature of such backlinks to be valuable information about that page (with the role of citations in academic publishing in mind). In his research project, nicknamed "BackRub", he was soon joined by Sergey Brin, a fellow Stanford Ph.D. student supported by a National Science Foundation Graduate Fellowship. Brin was already a close friend, whom Page had first met in the summer of 1995 in a group of potential new students which Brin had volunteered to show around the campus. Page's web crawler began exploring the web in March 1996, setting out from Page's own Stanford home page as its only starting point. To convert the backlink data that it gathered into a measure of importance for a given web page, Brin and Page developed the PageRank algorithm. Analyzing BackRub's output—which, for a given URL, consisted of a list of backlinks ranked by importance—it occurred to them that a search engine based on PageRank would produce better results than existing techniques (existing search engines at the time essentially ranked results according to how many times the search term appeared on a page). A small search engine called RankDex was already exploring a similar strategy.
Convinced that the pages with the most links to them from other highly relevant Web pages must be the most relevant pages associated with the search, Page and Brin tested their thesis as part of their studies, and laid the foundation for their search engine. By early 1997, the backrub page described the state as follows:
Convinced that the pages with the most links to them from other highly relevant Web pages must be the most relevant pages associated with the search, Page and Brin tested their thesis as part of their studies, and laid the foundation for their search engine. By early 1997, the backrub page described the state as follows:
The meaning of Sharjeel
Sharjeel has multiple meanings and origins. The Indian version of Sharjeel means Unknown. The Syrian version of Sharjeel means Sharjeel was a commander of the roman army. The Islamic version of Sharjeel means Fine.
applications software
Includes programs that do real work for users. For example, word processors, spreadsheets, and database management systems fall under the category of applications software.
systems software
Includes the operating system and all the utilities that enable the computer to function.
software
Computer instructions or data. Anything that can be stored electronically is software. The storage devices and display devices are hardware.
The terms software and hardware are used as both nouns and adjectives. For example, you can say: "The problem lies in the software," meaning that there is a problem with the program or data, not with the computer itself. You can also say: "It's a software problem."
The distinction between software and hardware is sometimes confusing because they are so integrally linked. Clearly, when you purchase a program, you are buying software. But to buy the software, you need to buy the disk (hardware) on which the software is recorded.
Software is often divided into two categories:
The terms software and hardware are used as both nouns and adjectives. For example, you can say: "The problem lies in the software," meaning that there is a problem with the program or data, not with the computer itself. You can also say: "It's a software problem."
The distinction between software and hardware is sometimes confusing because they are so integrally linked. Clearly, when you purchase a program, you are buying software. But to buy the software, you need to buy the disk (hardware) on which the software is recorded.
Software is often divided into two categories:
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