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Yahoo, on the other hand, sold to Verizon in 2017 for - ironically - just under $5 billion. Today, Google and its parent company Alphabet have a market cap of $840 billion. Google went on to launch Google News later that year, a content aggregation service that would change how digital media was published and distributed on the web. By the summer of 2002, Yahoo tried to acquire Google for $3 billion, but Google reportedly turned down the deal as it felt it was worth at least $5 billion. As Google began to gain popularity, it even became Yahoo’s search engine provider in 2000. Long before Google became a verb, Yahoo was the premier internet search engine. The early 2000s would prove to be big and defining years for Google. Schmidt announced the change in a cheeky tweet that said, “Day-to-day adult supervision no longer needed!” Summer 2002: Yahoo tries (and fails) to buy Google for $3 billion In 2011, he moved on to the role of executive chairman, and Page became CEO. Schmidt stayed in this position for 10 years, seeing the search giant through its 2004 IPO, the acquisition of YouTube, and the introduction of products like Google Docs and Gmail.
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He joined the board of directors as chairman in March 2001 and then became the company’s CEO in August. The company was only a few years old, but it was rapidly growing and it needed guidance - or, as Brin said in a Charlie Rose interview that year, “adult supervision.” Schmidt had a seasoned background in engineering and worked as the CTO of Sun and then the CEO of Novell before coming to Google. In 2001, Page and Brin recruited Eric Schmidt to run Google. Photo by David Paul Morris / Getty Images August 2001: Schmidt made chairman of “adult supervision” They incorporated the company as Google, with a $100,000 investment from Sun Microsystems co-founder Andy Bechtolsheim. The duo relocated to the garage of Susan Wojcicki, who would later become CEO of YouTube in Menlo Park, California. Inspired by the vast number of links between pages and how their search engine would only become more accurate and useful as the web continued to grow, Page and Brin renamed their company after the mathematical term googol (a one followed by 100 zeroes). September 4th, 1998: Google incorporates with $100,000 in angel funding The two technologies formed the foundation for the world’s most powerful search engine of its time, which launched on Stanford’s private network in August 1996. Together with Brin’s math expertise, the duo created the PageRank algorithm, named after Larry, to rank the search results based on linking behavior. Page conceived a system that would crawl the internet to determine which pages were linking to other pages, positing that it could lead to the creation of a new kind of search engine. The two stayed in touch as Page began looking into the behavior of linking on the World Wide Web.
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There, he met fellow CS student Sergey Brin. Initially known as BackRub, Google began as a research project of Larry Page, who enrolled in Stanford’s computer science graduate program in 1995. August 1996: Larry Page and Sergey Brin launch Google on Stanford University’s network Logo used from September 15th, 1997, to September 27th, 1998. But it is an approximation of the company’s biggest product launches, legal quagmires, and instrumental acquisitions that have turned it into a Silicon Valley powerhouse that will likely last for many decades to come. This isn’t a comprehensive history of Google’s past 20 years. On Tuesday, September 4th, Google turned 20 years old, marking one of the most staggeringly influential runs for any corporation in history.Īs Alphabet, the holding company of which Google is now a subsidiary, steadily rises to join Apple and Amazon in the $1 trillion market valuation territory, we’re reflecting on all the moments in Google’s past that led to its position at the peak of industries as diverse as mapping, self-driving cars, and smartphone operating systems.
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Many of those people use Google software to search the repository of human knowledge, communicate, perform work, consume media, and maneuver the endlessly vast internet in 2018. The company that started as a novel search engine now manages eight products with more than 1 billion users each. No technology company is arguably more responsible for shaping the modern internet, and modern life, than Google.