Larry Page execute to sell Google for $1 million in 1999
In 1999 Larry Page and Sergey Brin Co-founders of Tech Giant Google, tried to sell out Google for around $1million to an internet portal Excite Founders Joe Kraus and Graham Spencer. But the Excite CEO Joe Kraus rejected the offer.
Vinod Khosla, the founder of Khosla Ventures, Excite’s primary investor backed Excite. He spoke briefly about the time they failed to acquire Google. He said, Google was willing to sell for under a million dollars to them, but we didn’t want to buy them. Vinod Khosla had a lot of interesting discussions with Google founders Larry Page and Sergey Brin at early 1999. The story goes that after Excite CEO George Bell rejected Page and Brin’s $1 million price for Google, khosla talked the duo down to $750,000 but George Bell didn’t want and he still rejected the offer. Then, in a meeting with Page, Excite’s CEO George Bell said that BackRub was too effective of a search engine. It would send users off the site too quickly. Bell believed that would be bad for Excite’s advertising business. He wanted a search engine that was only 80% as good as Excite’s competitors.
Obviously, the deal never happened. Today, Google worth $498 billion compared to Apple’s market cap of around $495 billion.