Google is Valued at $80 Billion

$80 billion is a number most companies dream of, but for Google it has become a reality.

According to Reuters, Google is now worth more than any other media company out there with a current stock market capitalization of more than $80 billion dollars.

Previous high-value companies include Time Warner which at one point was bought by AOL for $106 billion and Yahoo! which carries a current market value of $27 billion dollars.

Google went public 10 months ago and had an opening stock price of $85 dollars a share, higher than what analysts at the time predicted it would open at. Despite criticism that Google was aiming too high, the internet company proved just about everyone wrong by introducing new products and partnerships, keeping their portfolio full of fresh ideas. The Reuters story stats that “Google shares now trade at 50 times the average estimate of analysts surveyed by Reuters Estimate of earnings in 2005.”

Found VIA HardOCP