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Google Co-founders Reveal Percentage Of Ownership
WebProNews
Staff Writer
2004-05-24
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An amended filing received by the SEC on Friday, May 21, 2004 contained information about the percentages of Google owned by co-founders, Sergey Brin and Larry Page. This amendment also contained information about the number of banks that Google selected for underwriting their IPO.
Initially, Google had selected 2 investment banks to handle the IPO. This number has increased to 31, with the addition of 29 additional banks, the filing revealed. Besides the banking information, the filing contained information about the amount of the company each founder owns.
Sergey Brin owns 15.6 percent of Google's outstanding shares, and Larry Page controls 15.7 percent. Not only do the two control 30+ percent of Google, the shares they do control are labeled as being Class B level stock, which has more voting power than Class A level stocks. Owners of Class B stocks have 10 votes per share they control, whereas Class A holders have 1 voter per stock.
Industry experts expect Google initial market value to be in the area of $20-30 billion. If these expectations are met, Brin and Page will be worth an estimated $3 to 4.7 billion.
The highest, non-Google employed ownership falls to Sequoia Capital and Kleiner, Perkins, Caufield & Byers, two Silicon Valley venture firms. According to RedNova.com, each invested a total of $25 million into Google 5 years ago. This investment gives each group 9.7 percent control of Google's shares. After the IPO, this investment could be worth anywhere from $2 to 3 billion.
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