Google needs more cash
p2pnet.net News:- When the name Google first showed up as a contender in the search engine stakes, Alta Vista, Web Crawler and Hotbot and, Yes, Dogpile, were all the rage.
Google? What kind of a name was that?
Now it looks as if Sergey and Larry and might be catching up with Bill and the Boyz in terms of not only notoriety, but also wealth.
As PC Pro puts it, at 10:25 am, “Less than a year after its first public shares sale, Google is attempting to add around $4bn to its coffers with a second stock offering."
Quoting to the Wall Street Journal, it needs the cash so it can continue major acquisitions in Asia and it also has ’secret plans’ for VoIP Internet telephony. And, "Other suggestions include expanding its nascent video search and developing an electronic payment system," says the story. "VoIP rumours were given weight by the news that earlier this week the company acquired Android, a portable wireless handset maker founded by a former Apple engineer, Andy Rubin. For Asia, read China, where Yahoo recently took a 40 per cent stake in an e-commerce operation.Google to go IPO, again 10:25AM."
Google is a major part of corporate America’s rush to invest in Communism in Red China. Other enthusiasts include Microsoft, Yahoo, Boeing, and the list rolls on. That sound you hear is Senator Joseph R. McCarthy rotating in his grave.
And, "To add to the air of mystery, the number of shares to be sold, 14,159,265, corresponds with the first eight numbers after the decimal point in the value of pi," says PC Pro.
Meanwhile, "Analysts marveled at Google’s move, noting that the already-wealthy company may be hoarding cash while hatching big schemes to buy an international company or new products, particularly as its rivalry with its big tech competitors heats up," says the Seattle Times, going on:
" ‘We face formidable competition in every aspect of our business, and particularly from other companies that seek to connect people with information on the Web and provide them with relevant advertising,’ it said in its [SEC] filing.
" ‘We expect that Microsoft will increasingly use its financial and engineering resources to compete with us. Both Microsoft and Yahoo! have more employees than we do [in Microsoft's case, currently nearly 14 times as many].’ With more cash and longer operating histories, both companies ‘can use their experience and resources against us in a variety of competitive ways, including by making acquisitions, investing more aggressively in research and development and competing more aggressively for advertisers and Web sites,’ it said in the filing."
Now you know.
If there’s something you think we should know, contact us – tips[at]p2pnet.net
See:-
PC Pro – Google to go IPO, again, August 19, 2005
Seattle Times – Google springs a surprise with new stock offer, August 19, 2005
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