Ten years ago, Google (GOOG) pulled off a tech IPO that would end up returning more than 1,000% — a virtual advertisement for anyone thinking about investing in tech IPOs. Since then, Google has grown by leaps and bounds, no longer “merely” a search company, but a tech firm that has its hands in many cookie jars, from smartphones to e-commerce to driverless cars.
Back in 2004, it was far from clear whether search would turn into a huge market, not to mention there was competition from the likes of then-giant Yahoo (YHOO) and Microsoft (MSFT). Plus, some of Wall Street was just a little concerned about co-founders Larry Page and Sergey Brin, who were … well, kind of kooky.
Even the structure of the Google IPO was unusual. The company used a so-called “Dutch auction,” which eschews the typical IPO process and instead opens up the offering to all investors, via an Internet auction.
All this made for an exciting few months before Google went public, and besides — as we know now, GOOG is a roaring success and has gone on to revolutionize the world.
But the nice thing about technology is that it repeatedly brings hot deals to life. Not all of them have been as successful as Google — or in some cases, successful at all — but many of them were full of buzz and intrigue. Here are some that stand out to me: