Methinks.
As it is, Google’s plans to embrace the public market and all that entails seem to have slipped. Too late for the pre-summer flotation window, there are also no jungle drums beating for an autumn offering. It is as if the search engine’s owners have tested market receptivity, found it to be OK in principle but now have to make the hard decisions about the merits of a listing before they even get to the issue of its timing.
Does timing even matter for a market leader?
Timing helps the initial part of the offering, but sustainable market cap growth is more important. You can hit a window, but if it slams shut behind you lose circulation.
Also wonder these days how when trust is at a premium if the short term scrutiny that comes with being public (especially when customers are not demanding transparency) is even worth it. Despite corporate scandals, transparency is undervalued relative to continuity.
I admire their patience.
I’d be incredibly impressed if they followed the SAS model and just stayed out of the public market entirely. If you don’t need the capital going public provides to achieve your plans (they already dominate search and are doing well at selling AdWords and look like they’re going to launch a successful email service without additional capital), then why go public?
Wow – not even a comment on the Sun and Microsoft ‘burying the hatchet’ in this day’s posting?
http://www.sun.com/aboutsun/media/
will time say .. what Honda and Toyota is to General Motors and Ford … Google and Linux is to Microsoft ??? Wake up Microsoft !!! Day light is burning !!!
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