Thursday, August 19, 2004

The New York Times > Technology > Google Lowers Its Sights as Demand Proves Weak

The New York Times > Technology > Google Lowers Its Sights as Demand Proves Weak "Google, whose S.E.C. filings pledged a "Don't be evil" philosophy, said its so-called Dutch auction of shares online would democratize the distribution of its stock, while achieving the best price for the company's stakeholders. In a Dutch auction, all bidders end up paying the same price - the highest price that assures that all shares will be sold.
"It seemed clear to many from the start that the Dutch auction process for such a high-profile, consumer-oriented company like Google - with an unseasoned management team - was a recipe for failure," said Hulus Alpay, who counsels companies about to go public as the head of investor relations at Makovsky & Company, an investor relations and public relations firm."
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