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It occurred after Eric Schmidt took over operational control of Google. He focused in on a rational business model (swiped from GoTo.com [1]), it's specifically why the venture capitalists installed him. Schmidt had both an engineering background and management experience. The story I recall from back then was about John Doerr telling Schmidt to not fuck it up (recounted in a nicer way by Schmidt, below [2]); the advertising runway was pretty simple for Google, given the product they were building under the hood. Schmidt joined Google in March 2001. For all of 1999 Google only had $220,000 in revenue (founded Sept 1998). Their early, primitive experiments in advertising worked well enough, they brought in $19m in revenue for 2000 (which would increase 300% in 2001, and then 400% in 2002). [1] 2013: https://slate.com/business/2013/10/googles-big-break-how-bil... [2] 2005: https://www.gq.com/story/google-larry-sergey > Schmidt met all of Larry and Sergey's stringent criteria. He had a credible name, a Ph.D. (from Berkeley), and he promised not to push the boys aside or dismantle the quirky culture they'd engendered. "The board members told me, basically, 'Don't screw this thing up!' " Schmidt says. "They said, 'It needs some infrastructure, some growing, but the gem here is very real.'" |
Has there been another company since Google that grew so fast? $19mil revenue in 2yrs, then tripling and quadrupling.