According to a regulatory filing submitted today the founders of Google Larry Page and Sergey Brin, plan to sell off 5 million Google shares each over the next five years, which would cause them to surrender majority voting control over the company.
If they followed the plan, the stock sales would reduce their voting power over Google’s stock from 59% today to around 48%, depriving them of majority control.
However CEO Eric Schmidt currently holds shares accounting for almost 10% of Google’s voting power. Therefore together, the trio would continue to control Google.
Page and Brin’s stock selloff will take place through gradual, pre-arranged sales over the next several years. Such trading plans are commonly used to diversify the portfolios of executives with significant holdings in their own company stock.
Google’s stock closed Friday at $550.01 per share. At those prices, Page and Brin would each fetch $2.75 billion.
Google’s stock has fallen is just a couple of weeks after hitting its 52 week high of $629.
This news probably will continue to be a drag on the stocks price when it opens back up for trading and Google was down another $5 after hours.
This gives me the impression that perhaps sergay and larry have decided google has reached it’s peak.
They deserve it. I’d put their invention right up there with the telephone and light bulb.
Owen ……what invention? PPC ?
I know of a person that had/has a ppc system just like G’s before even GoTo thought of it. This was back in 1997. It’s still waiting to be released since this person has been assembling an insane data center for years. Millions of dollars in computers. It might be coming to all us domainers soon. In other words, there is a PPC alternative to G and Y coming and designed for us domainers to go around the big boys. People will be able to stop at your parked domain, enter their credit card number, and place a PPC ad. You’ll be able to sell you own ads also on your domains if you wish.
If that happens, as I hope it will, all hell will break loose in the domaining industry as everyone will want on board a system that pays fairly. Bye, bye Google and Yahoo…….damn thieves!
Sorry for rambling……I get excited and emotional about domains sometimes. 🙂
good news.i think.it has been a long time that china is so tolorate to the others ,i hpe sometimes china,my mother ,can do things more bravely.
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it’s just a way to make a lot of (true) money and give the illusion of an “independent” Google… 🙁
Telephone? Light bulb? Laughable.
Any comp sci practitioner would characterize pagerank as a better wheel. One that works extremely well in practice and executed flawlessly to this point. Page and Brin deserve everything they’ve earned.
But in terms of “invention” ranking, it’s somewhere between Miley Cyrus and dry cleaning.
It’s true that pagerank was a great invention; and their execution since then has been a thing of wonder . . . and yes, “da’ boys” deserve what they’ve earned.
However, if they hadn’t been able to generate revenue by stealing the Bill Gross/IdeaLab/GoTo invention (which Google admittedly improved–and continues to improve–on) due to two critical mistakes IdeaLab/GoTo made with their ground-breaking PPC patent (#6,269,361), Google would have joined the dust bin of Internet companies with great ideas but little or no revenue years ago.
They were running on fumes at the time, and the VC $$$ was quickly running out. They were less than a year from going belly up.
Fact is, without the genius of Bill Gross and his team, there’d be no Google, and (at least in the US), it’d be Yahoo and Microsoft fighting it out for search hegemony.
John Battelle’s “The Search” has the specifics.
Puckett: That sounds very interesting. I’m sure everyone would like to hear more once you’re able to provide specifics.
it is good thing to sell the share because it is the fast leading company. but it is not necessary them to sell the share now.
Someday maybe some of you will understand “diversification”.
But in terms of “invention” ranking, it’s somewhere between Miley Cyrus and dry cleaning.
LOL
How about somewhere between “advertising flyers on windshields” and “infomercials”?