Twenty years after its IPO, Google is worth more than $2 trillion. Michael Grimes recalls the milestone occasion in 2004.
Twenty years after its 2004 IPO, Google is worth more than $2 trillion, a technology company so expansive that the Department of Justice may be looking to split it up.
Sergey Brin, Google's cofounder, chimed in. Grimes remembers Brin telling him, "Oh no, you don't want that. Gmail is going to be big. You'll be spammed forever." Grimes said Brin and Larry Page wanted a level playing field for their IPO: "Their point of view was: Wait, if a young engineer sold some of her vested stock from Cisco or wherever and she wants to put $10,000 into Google, why should she get told she only gets $500 worth or none? Especially if she's willing to pay one dollar more than the institution."
Winning the coveted "left lead" on the IPO was and still is a competitive race. His team embraced the format, built a prototype and tested for a billion bids.
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