Wednesday, October 10, 2007

Google crosses $600 per share

Shares in Google moved past the $600-a-share mark for the first time extending a rally that has lifted the internet search and advertising giant’s market value by about $25bn in just the past month.

Although the shares fluctuated around $600, their performance will serve as another reminder of the enormous wealth created by the nine-year-old Mountain View, California-based company since it went public at $85-a-share in 2004. Some pundits had predicted that it will even reach US$2,000-a-share. Nobody can tell how far Google's shares can continue to increase. They had broke all the psychological level from $200 all the way to $600.

Based on its current share price, Google has a market value of more than $190 billion – more than many bigger, more mature businesses such as Coca-Cola, Hewlett-Packard and IBM.

The biggest beneficiaries of Google’s share price surge have been Larry Page and Sergey Brin, the company’s co-founders who now rank among the world’s wealthiest men with fortunes approaching $20bn each.

Both Larry and Sergey had worked hard and had given all of us an accurate and comprehensive way to search for information and certainly a flawless business model for the advertisers to be listed on the search engine. Not only that, Google had gone beyond just a search engine and had empowered us with lists of new apps like Gmail, Gtalk, Google reader, iGoogle, not to mention the blog platform that i m using and many more.

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