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Google

Founder Larry Page, Sergey Brin

This article is about the company. google

Google was founded on September 4, 1998, by Larry Page and Sergey Brin while they were PhD students at Stanford University in California. Together they own about 14% of its publicly listed shares and control 56% of the stockholder voting power through super-voting stock. The company went public via an initial public offering (IPO) in 2004. In 2015, Google was reorganized as a wholly owned subsidiary of Alphabet Inc. Google is Alphabet's largest subsidiary and is a holding company for Alphabet's Internet properties and interests. Sundar Pichai was appointed CEO of Google on October 24, 2015, replacing Larry Page, who became the CEO of Alphabet. On December 3, 2019, Pichai also became the CEO of Alphabet.

History

Main articles: History of Google and List of mergers and acquisitions by Alphabet.

Google began in January 1996 as a research project by Larry Page and Sergey Brin when they were both PhD students at Stanford University in California. The project initially involved an unofficial "third founder", Scott Hassan, the original lead programmer who wrote much of the code for the original Google Search engine, but he left before Google was officially founded as a company; Hassan went on to pursue a career in robotics and founded the company Willow Garage in 2006.

Larry Page

Page was born on March 26, 1973, in Lansing, Michigan. His mother is Jewish; his maternal grandfather later immigrated to Israel, though Page's household growing up was secular. His father, Carl Victor Page Sr., earned a PhD in computer science from the University of Michigan. BBC reporter Will Smale described him as a "pioneer in computer science and artificial intelligence". Page's paternal grandparents came from a Protestant background. Page's father was a computer science professor at Michigan State University and his mother Gloria was an instructor in computer programming at Lyman Briggs College at the same institution.

During an interview, Page recalled his childhood home "was usually a mess, with computers, science, and technology magazines and Popular Science magazines all over the place", an environment in which he immersed himself. Page was an avid reader during his youth, writing in his 2013 Google founders letter: "I remember spending a huge amount of time pouring [sic] over books and magazines". According to writer Nicholas Carlson, the combined influence of Page's home atmosphere and his attentive parents "fostered creativity and invention". Page also played instruments and studied music composition while growing up. His parents sent him to music summer camp — Interlochen Arts Camp at Interlochen, Michigan, and Page has mentioned that his musical education inspired his impatience and obsession with speed in computing. "In some sense, I feel like music training led to the high-speed legacy of Google for me". In an interview Page said that "In music, you're very cognizant of time. Time is like the primary thing" and that "If you think about it from a music point of view, if you're a percussionist, you hit something, it's got to happen in milliseconds, fractions of a second".

Sergey Brin

Brin was born on August 21, 1973, in Moscow in the Soviet Union, to Russian Jewish parents, Mikhail and Eugenia Brin, both graduates of Moscow State University (MSU). His father is a retired mathematics professor at the University of Maryland, and his mother a researcher at NASA's Goddard Space Flight Center.

The Brin family lived in a three-room apartment in central Moscow, which they also shared with Sergey's paternal grandmother. In 1977, after his father returned from a mathematics conference in Warsaw, Poland, Mikhail Brin announced that it was time for the family to emigrate. They formally applied for their exit visa in September 1978, and as a result, his father was "promptly fired". For related reasons, his mother had to leave her job. For the next eight months, without any steady income, they were forced to take on temporary jobs as they waited, afraid their request would be denied as it was for many refuseniks. In May 1979, they were granted their official exit visas and were allowed to leave the country.

Google received money from two other angel investors in 1998: Amazon.com founder Jeff Bezos, and entrepreneur Ram Shriram. Page and Brin had first approached Shriram, who was a venture capitalist, for funding and counsel, and Shriram invested $250,000 in Google in February 1998. Shriram knew Bezos because Amazon had acquired Junglee, at which Shriram was the president. It was Shriram who told Bezos about Google. Bezos asked Shriram to meet Google's founders and they met 6 months after Shriram had made his investment when Bezos and his wife were in a vacation trip to the Bay Area. Google's initial funding round had already formally closed but Bezos' status as CEO of Amazon was enough to persuade Page and Brin to extend the round and accept his investment.

Growth

Google first server

In March 1999, the company moved its offices to Palo Alto, California, which is home to several prominent Silicon Valley technology start-ups. The next year, Google began selling advertisements associated with search keywords against Page and Brin's initial opposition toward an advertising-funded search engine. To maintain an uncluttered page design, advertisements were solely text-based. In June 2000, it was announced that Google would become the default search engine provider for Yahoo!, one of the most popular websites at the time, replacing Inktomi.

Additionally, in 2001 Google's investors felt the need to have a strong internal management, and they agreed to hire Eric Schmidt as the chairman and CEO of Google. Eric was proposed by John Doerr from Kleiner Perkins. He had been trying to find a CEO that Sergey and Larry would accept for several months, but they rejected several candidates because they wanted to retain control over the company. Michael Moritz from Sequoia Capital at one point even menaced requesting Google to immediately pay back Sequoia's $12.5m investment if they did not fulfill their promise to hire a chief executive office, which had been made verbally during investment negotiations. Eric wasn't initially enthusiastic about joining Google either, as the company's full potential hadn't yet been widely recognized at the time, and as he was occupied with his responsibilities at Novell where he was CEO. As part of him joining, Eric agreed to buy $1 million of Google preferred stocks as a way to show his commitment and to provide funds Google needed.

Product and Services

Search Engine

Google indexes billions of web pages to allow users to search for the information they desire through the use of keywords and operators. According to comScore market research from November 2009, Google Search is the dominant search engine in the United States market, with a market share of 65.6%. In May 2017, Google enabled a new "Personal" tab in Google Search, letting users search for content in their Google accounts' various services, including email messages from Gmail and photos from Google Photos.

Search engine

Advertising

Google generates most of its revenues from advertising. This includes sales of apps, purchases made in-app, digital content products on Google and YouTube, Android and licensing and service fees, including fees received for Google Cloud offerings. Forty-six percent of this profit was from clicks (cost per clicks), amounting to US$109,652 million in 2017. This includes three principal methods, namely AdMob, AdSense (such as AdSense for Content, AdSense for Search, etc.) and DoubleClick AdExchange.

Advertising

Google Analytics allows website owners to track where and how people use their website, for example by examining click rates for all the links on a page. Google advertisements can be placed on third-party websites in a two-part program. Google Ads allows advertisers to display their advertisements in the Google content network, through a cost-per-click scheme. The sister service, Google AdSense, allows website owners to display these advertisements on their website and earn money every time ads are clicked. One of the criticisms of this program is the possibility of click fraud, which occurs when a person or automated script clicks on advertisements without being interested in the product, causing the advertiser to pay money to Google unduly. Industry reports in 2006 claimed that approximately 14 to 20 percent of clicks were fraudulent or invalid. Google Search Console (rebranded from Google Webmaster Tools in May 2015) allows webmasters to check the sitemap, crawl rate, and for security issues of their websites, as well as optimize their website's visibility.

Internet Services

In February 2010, Google announced the Google Fiber project, with experimental plans to build an ultra-high-speed broadband network for 50,000 to 500,000 customers in one or more American cities. Following Google's corporate restructure to make Alphabet Inc. its parent company, Google Fiber was moved to Alphabet's Access division.

In April 2015, Google announced Project Fi, a mobile virtual network operator, that combines Wi-Fi and cellular networks from different telecommunication providers in an effort to enable seamless connectivity and fast Internet signal.

Corporate affairs

Stock price performance and quarterly earnings

Google's initial public offering (IPO) took place on August 19, 2004. At IPO, the company offered 19,605,052 shares at a price of $85 per share. The sale of $1.67 billion gave Google a market capitalization of more than $23 billion. The stock performed well after the IPO, with shares hitting $350 for the first time on October 31, 2007, primarily because of strong sales and earnings in the online advertising market. The surge in stock price was fueled mainly by individual investors, as opposed to large institutional investors and mutual funds. GOOG shares split into GOOG class C shares and GOOGL class A shares. The company is listed on the NASDAQ stock exchange under the ticker symbols GOOGL and GOOG, and on the Frankfurt Stock Exchange under the ticker symbol GGQ1. These ticker symbols now refer to Alphabet Inc., Google's holding company, since the fourth quarter of 2015.

Google generated $50 billion in annual revenue for the first time in 2012, generating $38 billion the previous year. In January 2013, then-CEO Larry Page commented, "We ended 2012 with a strong quarter ... Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half."

Corporate identity

Google logo (1998)

The name "Google" originated from a misspelling of "googol", which refers to the number represented by a 1 followed by one-hundred zeros. Page and Brin write in their original paper on PageRank: "We chose our systems name, Google, because it is a common spelling of googol, or 10¹⁰⁰ and fits well with our goal of building very large-scale search engines." Having found its way increasingly into everyday language, the verb "google" was added to the Merriam Webster Collegiate Dictionary and the Oxford English Dictionary in 2006, meaning "to use the Google search engine to obtain information on the Internet." Google's mission statement, from the outset, was "to organize the world's information and make it universally accessible and useful", and its unofficial slogan is "Don't be evil". In October 2015, a related motto was adopted in the Alphabet corporate code of conduct by the phrase: "Do the right thing". The original motto was retained in the code of conduct of Google, now a subsidiary of Alphabet.

Office location

Google office building 1265 Crossman, Sunnyvale

In 2006, Google moved into about 300,000 square feet (27,900 m²) of office space at 111 Eighth Avenue in Manhattan, New York City. The office was designed and built specially for Google, and houses its largest advertising sales team. In 2010, Google bought the building housing the headquarter, in a deal that valued the property at around $1.9 billion. In March 2018, Google's parent company Alphabet bought the nearby Chelsea Market building for $2.4 billion. The sale is touted as one of the most expensive real estate transactions for a single building in the history of New York. In November 2018, Google announced its plan to expand its New York City office to a capacity of 12,000 employees. The same December, it was announced that a $1 billion, 1,700,000-square-foot (160,000 m²) headquarters for Google would be built in Manhattan's Hudson Square neighborhood. Called Google Hudson Square, the new campus is projected to more than double the number of Google employees working in New York City.