Google’s 2004 initial public offering created one of the largest internet-company market capitalizations of its era.
Google held its initial public offering in August 2004. The company used a modified Dutch auction, allowing investors to submit bids that helped determine the offering price. Google sold shares at $85 each and raised about $1.67 billion.
Its search engine had become highly influential because it organized web pages using algorithms designed to return relevant results. Google’s advertising model connected those searches with paid listings, creating a powerful source of revenue.
Google later became a subsidiary of Alphabet in 2015. Modern market-capitalization tables generally list Alphabet rather than Google as the publicly traded parent, although Google remains the name of the search business and many consumer products.