Google’s IPO was ten years ago today and the Wall Street Journal has a great piece on how the company has evolved over the past decade.
One thing the Journal doesn’t touch on, however, is how Google (whose formal corporate motto is “Don’t Be Evil”) has managed to steadily reduce its tax rate. Remember, the US statutory tax rate for corporations is 35%, but almost no one actually pays that. And it’s outside of the US where the search giant has been accused of shirking. In Britain and Australia, where Google generates billions of dollars revenue but little profit (due to profit-shifting techniques), governments have complained that the company is not paying its due.
Of course, Google shares have been a phenomenal investment (the stock is up nearly 1,000%), so at least its shareholders will be wishing it a happy birthday.