WR Hambrecht CEO Bill Hambrecht on Google’s IPO anniversary (movie uploaded 2 minutes ago):
A Dutch auction is a type of auction where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer’s price, or a predetermined reserve price (the seller’s minimum acceptable price) is reached. The winning participant pays the last announced price. This is also known as a “clock auction” or an open-outcry descending-price auction. wiki
Back to 2004 – The Google IPO took place on 19 August 2004. 19,605,052 shares were offered at a price of US$85 per share – 14,142,135 were floated by Google, the remaining 5,462,917 were offered by existing stockholders. The sale of US$1.67 billion gave Google a market capitalization of more than US$23 billion.