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Acquired / Case file

Google

Treated as a four-part company across the catalogue.

Latest filing on file · 2025-12-31

Revenue
$402.8B
FY2025 · USD
10-K · period ended 2025-12-31Source
Operating cash flow
$164.7B
FY2025 · USD
10-K · period ended 2025-12-31Source
Capital expenditures
$91.4B
FY2025 · USD
10-K · period ended 2025-12-31Source

Overview

Business model and origins

Rank the web on its own link structure (PageRank) to organize the world's information, then monetize intent at the moment of search with a self-serve ad auction.

4 episodes1 hook2026-06 case file as of

Origin

Larry Page and Sergey Brin met as Stanford PhD students; their BackRub research scored pages by who links to them, which became PageRank and then Google. The company nearly stayed a licensing project until Andy Bechtolsheim wrote a $100,000 check to 'Google Inc.' before the entity legally existed. The organic-search breakthrough had no business model for years; Google found it by adapting the pay-per-click search auction GoTo / Overture had pioneered, then compounding it on a data-and-marketplace flywheel.

Hooks from these episodes

Google is profitable enough to build its own data centres, its own servers, and its own undersea cables — which gives it cost advantages competitors can't replicate even with the same architectural decisions.

The four-part Google series treats the company as four businesses, not one.