Google’s ardor to do an IPO has always been a little baffling. The company is profitable and has $550-million in the bank, so it wasn’t that it needed the money to grow. An interesting WSJ story asks the question of what it will do — media acquisitions? finishing the Baidu buy? video search? — to soak up the $1.7-billion it will raise from the imminent offering.
The story strongly suggests that Sergey and Larry have no specific ideas how to spend the money — and they aren’t asking their technical advisory council either:
Those who know Google well say there is no master plan. They say Google’s leaders care more about fostering creativity than steering toward a set goal. … “They operate by trying lots of things and some of them don’t really work,” says Jakob Nielsen, an industry consultant and member of Google’s technical advisory council — which hasn’t met for the past year.
Hey, how about dividending the money back?