Entrepreneurship Assignment

926 words - 4 pages

I chose to read a book about entrepreneurship rather than interview an entrepreneur. The book I read is entitled The Story of Google. The book starts with a college student, Larry Page, touring Stanford University. While there, his guide was Sergey Brin. The two of them very quickly became great friends although it did not always seem as such. They would constantly have intellectual battles about anything and everything. The two of them began a project for a doctoral thesis. The plan was to download the entirety of what is on the internet and find a way to search it using links. Page decided to use a ranking system to determine the relevance of links and called it “PageRank”. In 1997, the two first launched their search engine and called it BackRub. While the initial startup for the site was only available to Stanford students and staff, it was not long before they made it to the World Wide Web. Later the same year, ideas were pitched for a name change. Sean Anderson suggested using “googol” because it represents a large number and they are indexing a large number of websites. Page and Brin at the time did not know how to spell googol and had the misspelling of “Google”. They ran quickly to see if the URL was available and it was. They registered their site as google.com. The next day Anderson sees “Google” written on the white board and writes, “It’s supposed to be g-o-o-g-o-l.” After making it on the internet, they dropped out from Stanford and continued work on Google. Page and Brin rented a garage from a friend to house operations in 1998. By 1999, they outgrew their garage office, handling more than 500,000 searches a day, and had to move to an office building in Palo Alto. The plan was to make a great search technology and license it to someone for a large sum of money. That proved harder than they thought so Page and Brin decided to continue bettering their website. They had to seek extra money from somewhere and went to the two most established firms for high tech companies. Both loved the idea and were willing to give them the twenty-five million dollars that they were looking for, but the partners wanted the two firms to invest jointly so they did not lose control of the company. They tried to get the companies to come to an agreement and they came back with they could not. All Page and Brin had to do was tell them that if they cannot come to an agreement then they are leaving and taking the offer with them. Shortly after the two companies came to an agreement, but required that...

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