Editing Larry Page (section)

==== Changes in management and expansion ====
Before Silicon Valley's two most prominent investors, [[Kleiner Perkins]] and [[Sequoia Capital]], agreed to invest a combined total of $50 million in Google, they applied pressure on Page to step down as CEO so that a more experienced leader could build a "world-class management team." Page eventually became amenable to the idea after meeting with other technology CEOs, including [[Steve Jobs]] and Intel's [[Andrew Grove]]. [[Eric Schmidt]], who had been hired as chairman of Google in March 2001, left his full-time position as the CEO of [[Novell]] to take the same role at Google in August of the same year, and Page moved aside to assume the president of products role.<ref name="Car"/>

Under Schmidt's leadership, Google underwent a period of major growth and expansion, which included its [[initial public offering]] (IPO) on August 20, 2004. He always acted in consultation with Page and Brin when he embarked on initiatives such as the hiring of an executive team and the creation of a [[sales force management system]]. Page remained the boss at Google in the eyes of the employees, as he gave final approval on all new hires, and it was Page who provided the signature for the IPO, the latter making him a billionaire at the age of 30.<ref name="Car"/>

Page led the acquisition of [[Android (operating system)|Android]] for $50 million in 2005 to fulfill his ambition to place handheld computers in the possession of consumers so that they could access Google anywhere. The purchase was made without Schmidt's knowledge, but the CEO was not perturbed by the relatively small acquisition. Page became passionate about Android and spent large amounts of time with Android CEO and cofounder [[Andy Rubin]]. By September 2008, [[T-Mobile US|T-Mobile]] launched the G1, the first phone using Android software and, by 2010, 17.2% of the handset market consisted of Android sales, overtaking Apple for the first time. Android became the world's most popular mobile operating system shortly afterward.<ref name="Car"/>