More IPOs Are Coming

By Deane Barker on September 16, 2003

Get ready for another wave of Net IPOs: These two companies are apparently the Olsen Twins of IPOs — the ones everyone is waiting for.

“The best examples are Google and Google, less than five years old, now powers more than 200 million web searches per day, employs over 1,000 people, and by many accounts (though not its own; it won’t comment) is nearing $1 billion in annual revenues, with hundreds of millions in profit., the Siebel Systems competitor that makes online tools for managing the sales process, is younger than Google and smaller, but growing rapidly. Benioff says that the company is in its second profitable quarter and that sales, which have been doubling annually, are running at a $100-million-a-year clip. Neither company is allowed by the SEC to discuss it, but many investors and techies expect both to go public within a year.”

Google is making $1 billion in revenues? Wow.