Google is going public after a $2.9 billion initial public offering.
The company, which has been focused on software for house design, will raise an initial $500 million from investors led by the private equity firm Kleiner Perkins Caufield & Byers, which also owns the real estate investment trust Zillow.
The sale was announced on Friday, bringing the company’s total valuation to $3.5 billion.CEOs Larry Page and Sergey Brin say they have been inspired by the rise of the cloud and the rise in the popularity of online video and social media.
They have been working on a number of products for the next two years.
Google’s next products include an artificial intelligence-driven virtual assistant and a home management tool.
The announcement follows a $1.2 billion round of funding by the hedge fund Sequoia Capital and the private investment arm of the pharmaceutical company Johnson &= Johnson.
The firm is led by Michael Pachter, who previously founded the private tech company LinkedIn and is currently chairman of the board of Zynga.