A helping hand, a counselor, a commander, and the first thing that comes to mind while thinking of the internet. Any guesses, who can that be? It’s none other than our pal Google! Google has such a cultural imprint among the masses that it has ended up being a verb! The millennials have seen Google as their mentor since the age of smart searching & internet, and now it seems like an integral part of our lives.
Do you know it was not there always like it is now? Can you think of any other search engine right now & name it? How did Google become such a huge name & who founded it? Today, let’s uncover all this & other facts which you might not know. Let’s also find out the net worth of Google as of 2018.
It all began in January 1996 with the brilliant idea of Ph.D. students Larry Page & Sergey Brin of Stanford University, California. The search engines at that time showed results according to the frequency of search terms appearing on the page. The duo presented their theory about a more efficient system where an analysis of a website’s relationships can be made. The new technology was named PageRank & the search engine was nicknamed as “BackRub.” The name “Google” was adapted from the word “googol” which is equivalent to 10 raised to the power of 100 & signified the extensive information the search engine provides.
With the completion of registration of the domain name of Google on September 15, 1997, the office space for it was opened in the garage of the duo’s friend, Susan Wojcicki, who was also the first person to be hired as an employee.
Google received its initial funding in August 1998 by Andy Bechtolsheim (co-founder of Sun Microsystems) of worth $100,000. Other investors like Sequoia Capital also provided a $25 million fund in June 1997.
The founding duo wanted to sell Google to Excite with a deal of $1 million & later coming down to $750,000, but the CEO George Bell rejected the offer both times. In August 2004, Google’s initial public offering took place. Google offered 19.605.052 shares at the rate of $85 per share & a sale of more than $1.67 billion gave a boost to Google’s capital to $397 billion by 2014.
The company initially based in a garage, later in 1999 moved to a better place in Palo Alto, California and began selling advertisements. Google touched new heights in 2003 when patent work for its PageRank Mechanism was done & its workspace was expanded by leasing an office complex at 1600 Amphitheatre Parkway in Mountain View. The complex later became famous as Googleplex. Google, after three years, bought the same property for $319 million. ‘Google’ became such a common word that it led to its inclusion as a verb in the Oxford English & Merriam-Webster Collegiate Dictionaries.
With the changing trend of advertisements from newspapers, TV, magazines to the internet by 2005, a 700% enhancement in the profits of Google was reported. By 2009, more than a billion words were searched on Google on a daily basis & by 2011 its monthly visitors crossed one billion. The year 2012 saw Google generating $50 billion annually for the first time.
Net Worth & Earnings:
The net worth of Google is estimated at $101.8 billion while its parent company Alphabet’s net worth is over $600 billion as contributed by various projects it looks after.
It employs 61,814 people around the world. Both the founders of the company are ranked at No. 12 and 13 of the wealthiest people list. Their combined worth is $80.5 billion. Google is the second most valued brand of the world & is not limited to Google search today with the emergence of its mass new products like Slides, Google+, Google Maps, YouTube, Gmail, Google Docs, Google Translate, and Google Chrome, etc.
Success stories like that of Google reaffirm our faith in thinking out of the box. For real magic lies outside the confines of traditional thinking.