GOOGLE - Declares a profit!

greenspun.com : LUSENET : Current News : One Thread

guardian

Google declares profit

Sarah Left

Tuesday August 7, 2001

The internet search engine, Google, has cheered the struggling dot.com sector by announcing it has made a profit in the second quarter.

The US-based company runs a much-lauded and increasingly popular search engine but, as it is not listed on the stock market, its financial position has not been discussed publicly until now.

The company has named its chairman, Eric Schmidt, as chief executive, and he chose the moment to tell the world about Google's profitability.

Mr Schmidt would not say exactly how much money the company had made but he described Google as "quite" profitable and said this had not been achieved through accounting tactics, such as failing to buy pencils for the whole quarter.

He replaces the co-founder Larry Page as chief executive.

Mr Page will take over as president of the company's products division.

The company's other co-founder, Sergey Brin, was named president for technology.

Google - founded in 1998 by Mr Page and Mr Brin while they were graduate students at Stanford University - has become famous for its laid back dot.com culture, with employees challenging each other to roller-hockey games in the company parking lot.

Ironically, that type of work ethic was discredited when most dot.coms failed to thrive but Google seems to have proved the formula can work.

The Google search engine is widely considered the best available on the internet at the moment.

It works by sifting through more than 1.3bn web pages to list results based on the relevancy to the search request, using technology more advanced than its rivals to deliver targeted results.

-- Anonymous, August 07, 2001

Answers

I'm thrilled! google is my buddy!

-- Anonymous, August 07, 2001

Moderation questions? read the FAQ