The worst business decisions were made when what could have been a billion-dollar profit becomes a verdict of remorse!
In this era of information, no one is unaware of the strength of Google!
Google is a search engine that was created in 1996 as a research project at Stanford University by Sergey Brin and Larry Page to find files on the Internet.
Primarily named Backrub, after deciding that the name of their search engine needed to be changed, Larry and Sergey chose Google, which is derived from the phrase ‘googol’.
How It Started!
The origins of Google can be traced back to Stanford University in 1995. Sergey Brin, a student at Stanford, was assigned to tour Larry Page around while he was considering grad school there.
According to some stories, they clashed on practically everything during that initial meeting, but they formed a partnership the following year.
Working from their dorm rooms, they built a search engine that used links to determine the importance of individual pages on the World Wide Web. They called this search engine Backrub.
Soon after, ‘Backrub’ was renamed ‘Google’!
Google attracted the attention of not only academics but also Silicon Valley capitalists during the next few years.
Andy Bechtolsheim, a co-founder of Sun, gave Larry and Sergey a $100,000 check-in in August 1998, and Google Inc. was established!
If information is power in the digital era (and it is), Google has a legitimate claim to be the most powerful corporation on the planet.
More information has been collected, digitized, organized, and displayed by it than by any other company in history.
It has more information about you than anyone else!
Google’s worth 250 billion dollars is enough to explain its strength.
Google also contains more information about us than numerous government agencies combined. The same way that Facebook does.
Google saves your internet history. Even when you sit down at a new computer, it returns results that are related to our ‘search trends.’
That means there isn’t anything today that Google isn’t aware of.
Google is one company that holds a sheer amount of power.
Just the number of people who rely on Google for their everyday tasks is enough to confirm this.
In fact, if there would be a firm that could rule the world, Google would be it!
The Incident Of Regret
Think about a scenario where you could be the owner of such a corporation.
Well, it’s a matter of regret that when Excite was given an opportunity to take over Google at a price of 1 million, they rejected it!
Google was willing to sell for less than a million dollars, but Excite was not interested.
The story was shared by Vinod Khosla, the founder of Khosla Ventures.
At that time he was also a partner at Kleiner Perkins which eventually backed Google.
He shared that he had “a lot of intriguing discussions” with Google founders Larry Page and Sergey Brin (early 1999).
He even shared that after Excite CEO George Bell rejected Page and Brin’s $1 million offer for Google, Khosla negotiated a price of $750,000 with the pair.
Bell, though, was still unconvinced.
In 2004, Ask Jeeves bought Excite. That company grew into Ask.com, which is now owned by IAC, which is run by Barry Diller.
For Excite, alas what could it have been!