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What is Google worth?

Anyone with an insatiable craving for a dot-com-era hypefest need not look far. The prospect of search engine firm Google's considering an initial public offering seems to have Wall Street salivating.

As rumors swirl around the five-year-old privately held company--$800 million in revenue? $200 million in profit? Microsoft takeover interest?--the handicapping of its future is becoming something of a parlor game. Analysts are struggling to put numbers on intangibles, while technology boosters hail the potential IPO as if it were the second coming.

The frenzy intensified this month, when the company approached several major investment banks for exploratory discussions. Some reports even claim that the firm is toying with an unconventional crowd pleaser: an open auction to distribute shares, allowing small investors to get into the game.

Grand visions aside, how sound is Google's business model in the face of its partners turning into possible competitors? While Google still powers portal giant Yahoo's Internet search results, Yahoo's acquisitions of Inktomi (search technology) and Overture (paid search listings) signal a coming change in strategy. Even Amazon has entered the fray, announcing the creation of a new group to work on achieving best-in-class shopping search

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posted by hapch03 @ 6:14 AM