How exactly did Google decide to offer 14,159,265 shares for sale? I can think of one way:
With Google stock price through the roof, investment bankers were constantly calling senior executives. They finally agreed to meet. As the bankers sat down with CEO Eric Schmidt, CFO George Reyes and the co-founders Larry Page and Sergey Brin, they advised them to sell a few more stock to investors and cash in on the hype that kept surrounding the search engine.
It didn't take long for the managers to see that the deal made sense. I could never hurt to have some additional cash in the bank to allow for future acquisitions. But selling additional shares only a year after the initial offering, that wasn't very Google-like.
Another meeting was scheduled and as the plans progressed, Brin and Page kept thinking of a way to turn an ordinary stock sale into a geek event. As the investment banker showed them a draft of the prospectus, Brin's eye fell on the number of stocks that would be offered: 14.1 million.
He showed the sheet to his buddy Page and nodded. They connected instantly. Page grabbed a pen, crossed out the number of shares and entered: 14,159,265. The investment bankers looked puzzled, Schmidt shrugged his shoulders.
But both Page and Brin knew:
(pi – 3) * 100,000,000 = 14,159,265.
And so it was settled.
unidentified pi-loving foot
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