Google Turns 10 Tomorrow
Google Inc. (NASDAQ:GOOG) first started as a project by Sergey Brin and Larry Page at Stanford University. Google was founded on September 7, 1998 after receiving a $100,000 check from Andy Bechtolsheim, co-founder of Sun Microsystems. About 6 years later, the company had an IPO and became one of the most powerful Internet companies in the world.
Now Google has 20,000 employees, a $150 billion market cap, and one of the bigget computer networks.
“Google will keep pushing the envelope,” stated John Battelle,
founder of Federated Media and author of The Search: How Google and Its Rivals Rewrote the Rules of Business and Transformed Our Culture. “It’s one of the
things that seems to make them happy.”
In the last 10 years, Google has been very busy. They have been scanning books for their Google Book Search project, putting together health databases for Google Health, expanding their e-mail services, and have recently entered the web browser market.
Larry Page and Sergey Brin are now worth about $19 billion each. And since 2001, Google has brought in $48 billion in revenues from Internet ads.
“Google is the oxygen in this ecosystem,” added Battelle. Brin, Page, and Schmidt are determined to keep working on Google until at least 2024. Google will be bringing in about $20 billion this year and Schmidt is determined to bring in $100 billion eventually.
In an effort to compete with Google’s dominant search market share, Microsoft Corporation attempted to buy Yahoo! for $47.5 billion this year.
Back in 1996, when Brin and Page were at Stanford as grad students, the idea behind Google was originally called BackRub. They gave it this name because the both of them believed that some of the most important information on the web was not being found by other search engines. After indexing over 25 million websites, Page and Brin decided to name their search engine after the math term, “googol,” which is 1 followed by 100 zeros.
After establishing themselves as a major search player, the company raised another $25 million from VCs, family, and friends. Then they started giving their employees free meals, snacks, and drinks.
Google continues to innovate and shows no sign of slowing down. For more information about Google’s rise in the industry, check out Battelle’s book or read about Google on Wikipedia. The Associated Press also has some details about Google turning 10.