What was Google stock price when it went public?
The journey of Google, a company that started as a humble research project at Stanford University, has been nothing short of remarkable. From its inception in 1998 to becoming the world’s most valuable company by market capitalization, Google has redefined the way we access information, communicate, and conduct business. One of the most significant milestones in Google’s history was its initial public offering (IPO) in 2004. But what was Google stock price when it went public? Let’s delve into this fascinating aspect of Google’s rise to fame.
Google’s IPO was a highly anticipated event, and the company’s founders, Larry Page and Sergey Brin, were keen to ensure that the process was conducted with utmost transparency and integrity. The IPO was scheduled for August 19, 2004, and the company filed its S-1 registration statement with the Securities and Exchange Commission (SEC) on April 29, 2004.
At the time of the IPO, Google had a market capitalization of approximately $23 billion. The company decided to price its shares at $85 per share, which was below the expected range of $108 to $135. This decision was made to avoid the hype and speculation that often accompany high-profile IPOs.
When Google’s stock began trading on the NASDAQ under the ticker symbol “GOOG” on August 19, 2004, the opening price was $100. The stock immediately surged to $103, marking a 20% increase from the IPO price. This initial surge was a testament to the excitement and anticipation surrounding the company’s IPO.
In the days following the IPO, Google’s stock continued to rise, reaching a high of $126.54 on August 25, 2004. However, the stock eventually settled at around $85 to $90, which was still a significant increase from the IPO price. The IPO raised approximately $1.67 billion for Google, allowing the company to expand its operations and continue innovating in the tech industry.
The success of Google’s IPO can be attributed to several factors. Firstly, the company’s impressive growth and profitability made it an attractive investment opportunity. Secondly, the founders’ commitment to maintaining Google’s core values and focusing on long-term success resonated with investors. Lastly, the strong performance of the tech industry during the early 2000s played a significant role in the IPO’s success.
In conclusion, Google’s stock price when it went public was $85 per share. The IPO was a pivotal moment in the company’s history, marking its transition from a private entity to a public company. The success of the IPO not only provided Google with the capital to continue its growth but also established the company as a symbol of innovation and entrepreneurship in the tech industry.
