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Search Engine Watch: Google: No IPO Imminent

Jul 02, 2001, 22:30 (0 Talkback[s])
(Other stories by Danny Sullivan)

Search-engine guru Danny Sullivan reports that Google, which has based most of its technology on Linux, will not be seeking an IPO in the near future.

"Following an story in the UK's Sunday Business newspaper, it was widely reported by other media outlets that Google was expecting to go public by the end of the year. The company strongly denies that this is the case."

"'We do expect to be profitable by the end of the year, but we're not currently meeting with bankers and we have no plans for an IPO at this time,' said spokesperson Cindy McCaffrey."

"The story that sparked the rumors suggests in its opening paragraph that a stock market float could happen by the end of the year. However, Google says this is speculation on the part of the writer, rather than any timings that Google provided."

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