Morgan Stanley and Goldman Sachs Group were selected by Google Monday to manage their initial public offering. The IPO could raise up to $4-million for Google, according to one banker involved with the IPO.

The two IPO managing firms will include a group of underwriters, including Citigroup, Credit Suisse First Boston, J.P. Morgan Chase & Co., Thomas Weisel Partners and WR Hambrecht & Co.

Google is likely to sell one third of its stake in the IPO, giving it nearly $12 million in market value. Google's IPO may cost them up to $280 million and plans on registering it's shares with the Securities Exchange Commission, according to bankers.

Information from the St. Petersburg Times and Houston Chronicle.com were used for this report.

-John Mudd