Okay, so the Google IPO has been tempered a bit. The price range for the shares has been dropped to around $85-$90 per share, and they will now offer 19.6 million shares instead of 25.7 million. The interesting part of this is that the early venture capital investors have decided not to sell any shares at all, and the founders and executives have cut the number of shares they will sell. In my opinion, this is a good thing. I’m surprised there hasn’t been a huge uproar over the fact that Google is saying “hey invest in us, we’re a really good company”, while at the same time the founders are heading out the back door by selling a whole heap of shares.
Still, poor old Sergey Brin eh? Instead of selling 962,226 shares at about $120, he’s only selling 481,113 shares at about $90. Oh my god, that is terrible. The poor, poor bastard will now only get a cash payment of $43,300,170 instead of the $115,467,120 he was expecting. Dah-yaaam!
(via TechDirt)
