Google IPO Tomorrow

Lots of Google news today… tomorrow “will bring”: their long-awaited and now famous Dutch auction IPO. And for such a well-run company (apparently), they’ve been doing a terrible job with their IPO; first an investigation in an illegal issuing of shares and now they’re being investigated by the SEC for violating the “quiet period” by “granting an interview”: to Playboy. I just can’t understand why this company is thought to be so valuable. They’re profitable (or so they say) and their search engine doesn’t suck (well, it does, but nobody quite realizes it yet), their Gmail service is not any more interesting than anyone else’s, and to top it all off, they’re really an ad agency. Our favorite ad agency, honestly, but an ad agency nonetheless.

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