Search Engine Watch: Google: No IPO Imminent
Jul 02, 2001, 22:30 (0 Talkback[s])
(Other stories by Danny Sullivan)
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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."