With regards to the Dutch Auction it may not have captured the maximum value for Google, but did it capture more than the alternative? According to http://www.

With regards to the Dutch Auction it may not have captured the maximum value for Google, but did it capture more than the alternative? According to http://www.businessweek.com/1999/99_47/b3656143.htm http://www.businessweek.com/1999/99_47/b3656143.htm the average IPO gained 14.1%, which would suggest they did leave money on the table, although I'd question if Google's IPO would be described as average. By comparison Akamai gained some 458% in it's first day of trading.