Eric Schmidt On Google’s IPO: Bad Press Made Us More Money

Eric Schmidt

Going for a Dutch auction made Google’s 2004 IPO more complex and Playboy almost killed it. Writing for the Harvard Business Review, *Google* CEO Eric Schmidt provides a case study in going public in a “Googley” way and making oodles of money despite — or because of — negative press. His thesis: Google (NSDQ: GOOG) survived with its own values intact by avoiding the traditional IPO route. A few bits from the article (but not a substitute for reading it all):

More attention, more money: Schmidt credits the intense attention on how bad an IPO would be for Google with increasing public awareness, which in turn increased traffic and revenue. He tosses in doom-and-gloom quote after quote from media and analysts about Google’s decisions and his chances. During the quiet period “people came out in droves to criticize our business, our management, our culture, our IPO — almost every aspect of who we were. And because we had to remain silent, we weren


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