Google IPO price set at 85 dollars
Google's Initial Share Price Set at $85, at Low End of Company Expectations; IPO to Raise $1.67B.... Still enough to make Billionaires out of the 2 founders!
While this is lower than a lot of peoples expectations, I am not surprised. 85 dollars is actually a fair price for this stock in my only slightly informed opinion.
Since google used the Dutch auction approach, a lot of wall street was not real pleased with this approach and the wall street PR machine was talking up every possible problem with google that they could dig up, while in the dot com boom the were sweeping details under the carpet.
Let me know what you think about the whole issue.