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Technology Stocks : Alphabet Inc. (Google)

GOOGL 331.84

+1.0%

Jan 12 3:59 PM EST

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To: Dave Budde who wrote (305)	8/8/2004 1:37:05 PM
From: Glenn Petersen	Read Replies (1) of 15857

The Google IPO certainly has the potential to turn into a debacle. From a public relations standpoint it already is a disaster. I am particularly disappointed to see the insider sales. The desire to make the process more democratic and prevent the underwriters from putting cheap shares into the hands of their favored clients is admirable. It is also hard to argue from a theoretical standpoint with their desire to put more hard dollars into the coffers of the company as opposed to having a huge opening pop. However, there is still a way for them to make it a win-win for all parties. Five years ago ADDN went public via the auction process. Even though the bids came in at $24 per share, they priced the deal at $18 because they were too lazy to file another amendment. Message 20143401 If I were Google, I would price the deal at a discount to the bid price and let the new shareholders make a few bucks. Google could certainly leave half a billion on the table to generate some good will. In the long run the initial pricing will not have any bearing on the valuation. The market will take care of that.

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