Early history[edit] Larry Page and Sergey Brin in 2003 The first Google computer at Stanford was housed in custom-made enclosures constructed from Lego bricks.[1] Beginning[edit] Google began in March 1996 as a research project by Larry Page and Sergey Brin‚ Ph.D. students at Stanford University.[2] In search of a dissertation theme‚ Page had been considering—among other things—exploring the mathematical properties of the World Wide Web‚ understanding its link structure as a huge graph
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Raising Equity Capital When a private company decides to raise outside equity capital to fund there firm‚ they can turn several potential sources‚ these include Angel Investors‚ venture capital firms‚ institutional investors and corporate investors. Angel investors are individual investors who buy equity in small private firms (often friends of relatives) and are usually the first round of outside financing typically receiving a sizeable equity share. Venture Capital Firm (VCF) is a limited partnership
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economy in Europe‚ Japan and the US. New York: Springer-Verlag Berlin Heidelberg New York. Ernst & Young‚ 2011. Global IPO Trends 2011. London: Ernst & Young Global Limited. Facebook‚ 2012. Form 1-S Registration Statement. New York: SEC. Haacke‚ Carl ‚ 2004. Frenzy: bubbles‚ busts‚ and how to come out ahead. New York: Palgrave Macmillan. Hirschey‚ Mark‚ 2003. Tech stock valuation: investor psychology and economic analysis. Academic Press: London. Janszen‚ Eric‚ 2008. The next bubble: Priming the
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made the huge loss of the whole airline industry‚ JetBlue airways try to publish its own IPO after 2 years of profitable operation in 2002‚ This case study is summarizing the step to publish the IPO. Following this‚ it will discuss the disadvantage and advantage to publish the IPO and use the financial data to evaluate the price is suit for the first publish. In this case‚ there are three different share valuation methods: P/E multiple (comparison pricing); EBIT multiple (comparison pricing) and discounted
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CASE STUDY: LINKEDIN CORPORATION The purpose of this case study is to analyze and forecast LinkedIn’s enterprise value based on market multiples. The primary multiple used for this valuation is EV to EBITDA and Revenue. Other multiples selected are market capitalization by net income. IPO OFFERING LinkedIn seed capital came from a combination of financing channels‚ Series A Preferred Stock and Series B venture capitalist firms and investors. Beneficial ownership and voting privileges are divided
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Case Study 1: Baidu – China’s Google Baidu is China’s largest and most popular search engine. We can see its social and demographic factor of STEEP analysis for Baidu‚ is mostly based in Chinese market. Baidu’s strategy is to focus on the searches in Chinese. Its target market is China and it’s doing quite well in being local‚ and having the ability to think like a local in China. Looking at the economical aspect‚ although Baidu’s target is mostly China‚ it has tremendous opportunity to capture
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Chapter 7 Stock Valuation Solution to Problems P7-1. LG 2: Authorized and Available Shares Basic (a) Maximum shares available for sale Authorized shares 2‚000‚000 Less: Shares outstanding 1‚400‚000 Available shares 600‚000 (b) $48‚000‚000Total shares needed 800‚000 shares$60== The firm requires an additional 200‚000 authorized shares to raise the necessary funds at $60 per share. (c) Aspin must amend its corporate charter to authorize the issuance of additional shares. P7-2. LG 2: Preferred Dividends
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opportunity Deal 2 - BioChallengers‚ Inc. Raising $40 Strength - Huge market $3.5B - Better product - Less Risky - IPO or Acquisition possible due to industry - Possible before trial results - Strong Portfolio of Drugs - Quick exit - Acquisition - She would look good due to high return Weakness - Long development time - High PreMoney Valuation - Little understanding of science behind product - Must TRUST outside sources - Arbitrary FDA approval process adds RISK
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Kohler Co. Summary: Kohler is one of the largest and oldest privately held companies in America. It started by manufacturing plumbing fixtures‚ famously inventing the first modern bathtub‚ and soon after began manufacturing small engines and generators. Today the company is also in the furniture and luxury resort business. Most of the company’s shares are held by members of the Kohler family‚ however 4% of the outstanding stock is owned by outsiders. Herbert Kohler Jr.‚ the CEO and Chairman of
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time is the primary task of a search engine and it is not an easy task. Google did well in this and it becomes one of the key competitive advantages of Google products. Google ‘s diverse businesses contribute to its success significantly. “Since its IPO‚ Google had launched a flurry of products that expanded its domain beyond web search.” After 2000‚ the IT market is growing at a very fast speed and lots of fields are untouched. Google provide its products to an immature market so that it can capture
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