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"Today is Googleday!" - Internet Sector Comes Back to Life

"Today is Googleday!" - Internet Sector Comes Back to Life

Having asked the Securities and Exchange Commission to declare its IPO effective as of 4:00 PM. Eastern time today, Google should be worth about $110 per share on its fiirst day of trading tomorrow, experts predict.

Google Inc.had net income of $143 million on sales of $1.35 billion in the first half of 2004.

Trading on the Nasdaq stock market under the symbol "GOOG" is expected to be vigorous, and futures contracts traded on the Web yesterday lead experts to predict a 59% chance that the shares will advance once trading starts.

Google began accepting bids on Friday for the 25.7 million shares of Class A common stock it is making available through its unusual electronic "Dutch auction." Depending on the final price (the range set is $108-135 for each share) Google's market value will tshortly emerge as being only just below that of rival Yahoo Inc.

Amazingly, for a company founded in just 1998, Google's market valuation will exceed that of both McDonald's Corp. and Sony Corp. and co-founders Sergey Brin and Larry Page (pictured) will become multimillionaires overnight.

Of the shares to be sold in Google's initial public offering of Class A common stock, 14,142,135 shares will be issued and sold by Google and 11,555,394 of the shares will be sold by the selling stockholders. 

Bambi Franciso, of CBS MarketWatch, remarked: "If Google's IPO does go, it's actually good timing - at least compared to the past six weeks. Just in the nick of time, the Internet sector appears to be coming back to life.".

More Stories By Jeremy Geelan

Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

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