To: StockDung who wrote (90876 ) 2/10/2005 2:08:14 PM From: rrufff Respond to of 122087 DJ Google Director Doerr Reports Sale Of $30M Class A Shrs 02/10/2005 Dow Jones News Services (Copyright © 2005 Dow Jones & Company, Inc.) (MORE) Dow Jones Newswires 02-10-05 1104ET DJ Google Director Doerr Reports Sale Of $30M Class A Shrs WASHINGTON (Dow Jones)--Google Inc. (GOOG) director L. John Doerr, whose firm was one of the company's biggest venture-capital backers, sold shares of the Internet search giant for about $30 million, according to a regulatory filing. Doerr, a general partner of venture capital firm Kleiner Perkins Caufield & Byers (KPM.XX), sold 150,000 Class A shares Monday and Tuesday, the Securities and Exchange Commission filing disclosed. This is the first time Doerr has reported selling Google shares since the company last year completed its hotly anticipated initial public offering. The stock-sale disclosure comes days before a post-IPO sales restriction, or lockup, will be lifted Monday on about 177 million Google shares held by insiders and pre-IPO investors, freeing the shares up for sale. The additional supply could pressure Google's share price. Doerr sold the Google shares for $198.13 to $201.50 apiece, according to the SEC filing from late Wednesday. Since going public last summer at $85 a share, Mountain View, Calif.-based Google's stock price has more than doubled, although shares fell $5.85, or 3.05%, to $185.73 on Thursday morning. Google held Wednesday its first analyst meeting since its IPO but offered little in the way of financial forecasts for its business. An SEC filing earlier this week reported that funds of Kleiner Perkins distributed about 10 million Google shares worth about $2 billion to investors. Menlo Park, Calif.-based Kleiner Perkins made a $14.2 million investment in Google in 1999 and parlayed that into a 21-million-share stake in Google Class B common stock when the company went public. Venture capitalists typically invest in private, start-up companies and then distribute shares to their investors once the company goes public. Google Class B shares, held by executives and other insiders, are convertible on a one-for-one basis into Class A stock, which is publicly traded. -By Shira Ovide, Dow Jones Newswires; 202-862-1356; shira.ovide@dowjones.com