That’s what a Fortune story revealed, and WSJ confirmed through Google (NSDQ: GOOG) spokesperson. Founders Larry Page and Sergey Brin, as well as CEO Eric Schmidt, made their informal pact one month prior to the company’s August 2004 IPO, the company said. The story says this indicates the long term commitment of the founders, and short-term worries punishing the stock right now are just that, short term. Part of it has to do with Google bidding for the wireless spectrum in the ongoing auction, and the huge amount of capital outlay it will require to see it through.
Another worry is retaining the original employees: according to some reports, nearly one-third of the first 500 Googlers have already cashed in their options and headed for the exits, some to found their own startups. Though of course with the possible recession looming this year, the chickens may fly back to the coop, so to speak.