Report: Google Picks IPO Underwriters

Share this content:
Google has chosen investment banks Morgan Stanley and Goldman Sachs to underwrite its anticipated stock offering, which would take place in April, according to news reports.


Bloomberg reported Monday that Google planned to file for the IPO with the Securities and Exchange Commission later this month. The stock sale would offer about one-third of the company for an estimated $4 billion, making it the largest IPO on Wall Street in nearly two years, Bloomberg said.


Morgan Stanley and Goldman Sachs would lead a group of underwriters that includes Citigroup, Credit Suisse First Boston, J.P. Morgan Chase, Thomas Weisel Partners and WR Hambrecht, Bloomberg said.


Google declined comment on reports about its IPO plans.


Initial reports gauged the company's valuation under a public offering as high as $20 billion, far above the $12 billion market value of the company under terms of the reported deal. Analysts estimate Google brought in about $1 billion of revenue in 2003 and $300 million in net income.


As a publicly traded company, Google would have more resources to battle heavyweights Microsoft and Yahoo for dominance in the search sector. Yahoo plans to replace Google with its Inktomi search technology in a few months, according to The Wall Street Journal.


Brian Morrissey covers search marketing for DM News.com. To keep up with the latest search marketing news subscribe to our free e-mail weekly newsletter Search Engine Marketing by visiting www.dmnews.com/cgi-bin/newslettersub.cgi .


close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above