Today in history: On August 19, 2004 – Google Inc. has its initial public offering on Nasdaq.

 

On August 19, 2004, Google Inc. made its landmark initial public offering (IPO) on the Nasdaq stock exchange, marking one of the most highly anticipated IPOs of the early 2000s. Founded in 1998 by Larry Page and Sergey Brin, Google had already transformed the internet with its powerful search engine and rapidly expanding suite of services.

The IPO was unusual because instead of using the traditional method of allowing investment banks to allocate shares to select investors, Google used a Dutch auction system, designed to give everyday investors a fairer chance at purchasing shares. The company initially priced its shares at $85 each, which valued Google at around $23 billion. Despite skepticism from Wall Street analysts, the IPO raised about $1.67 billion, instantly making it one of the largest tech offerings of its time.

The IPO not only cemented Google’s place as a rising giant in the tech industry but also laid the financial foundation for its massive global expansion in the years that followed. Early investors, employees, and even the company’s first angel investor, Andy Bechtolsheim, saw their stakes multiply in value overnight. The success of the IPO allowed Google to invest in innovations beyond search, including Gmail, Google Maps, YouTube (acquired in 2006), and eventually Android. Over the years, that initial offering has been seen as the beginning of Google’s transformation from a promising startup into one of the most dominant and valuable companies in the world, eventually restructured under its parent company, Alphabet Inc., in 2015.

See also: Today in history On August 19, 1991 – Crown Heights riot begins