Ten years ago, on this date 19th August, 2004, the world’s first global search engine, Google Inc (NASDAQ:GOOGL) launched its first IPO and was a noteworthy success to the point of convincing even celebrities like Tiger Woods, Henry Kissinger and Arnold Schwarzenegger bought a small stake in it. Sure enough the stock rose not just on its day of opening but has never looked back ever since courtesy of the unrelenting efforts of Larry Page and Sergey Brin, its iconic founders.
As an acknowledgement of its 10th anniversary, the company is once again under the scanner, the most pertaining question being its path into the future. Having established itself at the heart of information based searches, predicting what Google could do next is something that everyone is taking a shot at. Most pragmatic in his stance is James Cakmak Telsey Advisory Group’s analyst as he predicts that the company will most likely expand and improve its search business. According to him, crucial in achieving this objective would be its cloud-based services.
Having completed his graduation in Economics and German from the John Hopkins University and served as account executive at Zurich Financial Services in the past, James Cakmak is well positioned and well-informed to be able to comment on Google Inc (NASDAQ:GOOGL)’s future agenda. With the accuracy with which he has adjudged Zynga Inc (NASDAQ:ZNGA) and Amazon (NASDAQ:AMZN), he also mentioned that Google Inc (NASDAQ:GOOGL)’s next priority would be to move a step ahead from its position to be able to cater to people’s needs. It would now try to lever itself in a position wherein it would be capable of predicting what people want and this explains the hordes of recent acquisitions.
In spite of the spotlight being on Google Inc (NASDAQ:GOOGL), there is one world renowned investor who still refuses to place a stake on it and that is none other than Warren Buffett. His comment in May, 2004, at the company’s IPO was –
“We’d never buy a public offering. The chances of buying something undervalued in a public offering, it’s not our game.”
After ten years, his opinion remains unchanged although he said that he would not be surprised at all if it appreciated to ten times more during the coming years.
This article has been written by Vinita Basu.