Tech Company, Google Hits Market Cap Of $1 Trillion For The First Time Since Its Establishment

Tech Company, Google Hits Market Cap Of $1 Trillion For The First Time Since Its Establishment

Tech Company, Google Hits Market Cap Of $1 Trillion For The First Time Since Its Establishment

Google has become the fourth tech company in the world to reach $1 trillion in value. The internet search giant was on Thursday revealed to have reached $1 Trillion in Value 22 years after its establishment. Google is currently the fourth tech company to have hit that impressive figure over the past two years. The other tech companies are Apple, Amazon, and Microsoft.

In 2004, Google filed to go public and it announced its plan to raise $2,718,281,828. In 2015, however, the company came under a parent entity called Alphabet and it said it would buy back shares that amounted to $5,099,019,513.59. Almost five years later, Google is celebrating a remarkable market milestone that only a few tech companies have been able to reach. Celebrating the company’s latest achievement, A former Google executive, Marissa Mayer recalled in a tweet on Monday that Google in 1999 raised money at a $100 million valuation. She was at the time the company’s 20th employee. ‘So proud to see it reach the market cap of $1trillion today!” she said.

Google Faces Challenges

This phenomenal achievement is coming at a time when Google is saying goodbye to its founders, Larry Page and Sergey Brin. Both of them had revealed last month that they would be stepping down from their executive roles. The company has been aiming to gain better control of its rising scale and size. Google, in 2015, began to bring professional managers on board to help the company achieve its set goals.

Notable among those who were employed was Ruth Porat, its current chief financial officer who joined the tech company from Wall Street. The company began to focus on cutting down on cost and studying the financial prospect of its moonshot projects like hot-air balloons and self-driving cars. Google also started to entice corporate customers with its cloud computing business while pushing for more money from businesses like You.tube.

Employees, however, were no longer satisfied with the way Google handled cases of sexual harassment and how it worked with the American military on technology. In 2019, Google fired many employees who had spoken against the company’s repeated violations of data security policies. The tech giant began to work with a firm that is known for helping big organizations ward off unions. A former research scientist at Google, Jack Poulson who left the company in 2018, said that the company’s character changed when it started to focus more on growth and making Wall Street happy.

Poulson said he turned in his resignation letter for him to be able to protest the company’s move to introduce a search engine in China. Although Google has said that it does not have plans right now to launch its search engine in China, Poulson said that if the company has gone through with it, the search engine would have adhered to the censorship requirements of the Chinese government. Google is still under investigation

from the U.S.

Congress, the Department of Justice and state attorneys general. It was criticized for allowing politicians to send digital ads to specific audiences during the 2016 elections. The tech company will no doubt be in the spotlight this year as the American presidential election draws closer.