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Google Lowers Its Sights as Demand Proves Weak

Google, conceding that demand for its long-awaited public stock offering had fallen far short of the company's hopes, reduced the number of shares yesterday and concluded its unorthodox online auction by accepting a price well below its original target. The final price was $85, far off the target range of $108 to $135 a share that the company projected last month. The shares are expected to begin trading today on the Nasdaq market.

Read the whole story at New York Times, August 19, 2004 »

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