Stanford earns $336 million from Google stock

Stanford University and Google have always had a close relationship, and now there is a clearer value on it: $336 million, the amount the university made from selling its Google stock.

Stanford received the stock, 1.8 million shares, in exchange for giving the Mountain View company the right to use its key Internet search technology, which company founders Sergey Brin and Larry Page developed while graduate students at Stanford. The university holds a patent on the technology, which it licenses to Google under a multi-year deal.

Stanford sold 184,207 of the shares, about 10 percent of its stake — for $15.7 million in Google’s initial public offering in August 2004.

The big windfall came from a second sale early this year. Stanford won’t say exactly when it sold the stock or for what price. The total gain of $336 million on Stanford’s Google stock was confirmed by Katherine Ku, director of Stanford’s Office of Technology Licensing, works out to an average price of $187 a share.

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