Sergey Brin and Larry Page developed the first version of Google search called BackRub in 1998. They tried to sell it but received no offers so decided to run it themselves. They received $1 million in initial funding and named the company Google, based on the mathematical term 'googol' meaning 1 followed by 100 zeros. Google grew rapidly and by 2000 it had become the largest search engine, receiving over 60 million searches per day. It has since expanded into many other products and services and had a successful public offering, though it faces ongoing competition from companies like Microsoft.