Google now worth over $80 billion
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Internet search engine, Google, saw its valuation top the $80bn mark this week, making it the world's most valuable media company - ahead of Time Warner, Walt Disney and Viacom. Since its flotation on the NASDAQ in August 2004, it has seen its share price increase dramatically from $85 to over $280 today. Despite being more valuable than Time Warner, which is worth $78bn, Google's annual sales amount to less than a 13th of the far more diversified and traditional media giant. Google's revenues are $3.2bn a year versus the $42bn a year that Tim
Internet search engine, Google, saw its valuation top the $80bn mark this week, making it the world's most valuable media company - ahead of Time Warner, Walt Disney and Viacom. Since its flotation on the NASDAQ in August 2004, it has seen its share price increase dramatically from $85 to over $280 today.
Despite being more valuable than Time Warner, which is worth $78bn, Google's annual sales amount to less than a 13th of the far more diversified and traditional media giant. Google's revenues are $3.2bn a year versus the $42bn a year that Time Warner generates. The gap in valuations is partly justified by investors based upon Google's much higher growth rate.
For comparison the top media companies in the world are, by market capitalization (as of June 6, 2005):
Google; $80bn
Time Warner; $78bn
Disney; $55bn
Viacom; $54bn
Yahoo; $51bn
News Corporation; $49bn
Sources & reporting note
Licensed archive reporting by Wikinews contributors. Text: Public domain (https://en.wikinews.org/wiki/Wikinews:Copyright). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 8 Jun 2005, 05:30 am IST
