Google founders Sergei Brin and Larry Page jointly explain the rationale of Google's stock split (See: New stock split gives Brin, Page life-long hold on Google).
Throughout our evolution, from privately held start-up to large, publicly listed company, we have managed Google for the long term - enjoying tremendous success as a result, especially since our IPO in 2004.
Sergey and I hoped, though we did not expect, that Google would have such significant impact, and this progress has made us even more impatient to do important things that matter in the world.
Our enduring love for Google comes from a strong desire to create technology products that enrich millions of people's lives in deep and meaningful ways. To fulfill these dreams, we need to ensure that Google remains a successful, growing business that can generate significant returns for everyone involved.
When we went public, we created a dual-class voting structure. Our goal was to maintain the freedom to focus on the long term by ensuring that the management team, in particular Eric, Sergey and I, retained control over Google's destiny. As we explained in our first founders' letter:
''We are creating a corporate structure that is designed for stability over long time horizons. By investing in Google, you are placing an unusual long term bet on the team, especially Sergey and me, and on our innovative approach...
We want Google to become an important and significant institution. That takes time, stability and independence…