Google isn’t worth as much as the internet giant originally thought. Their initial stock offering was cut by about a quarter, down to somewhere between $85 and $95 US.
The company could be worth as much as $26 million. That is down from the $36 million they originally estimated.
The SEC delayed approval of their statement on Tuesday, but Google amended a statement and submitted it today.
The Google stock offering is considered by some as the most important ever done by an Internet company, and could impact business on the Internet for years to come.
People have been bidding on Google stock to get the chance to be able to purchase some. As much as 14.1 million shares are expected to become available.