Google, Apple, and Facebook are among the companies that had their IPO in 1999. During the late 1990s, the tech industry was flourishing, and the stock market was soaring. Many companies went public in 1999 as everyone wanted to be a part of the booming industry.
8 Companies That Had Their IPO In 1999
1999 was a significant year for tech IPOs. While some lesser-known companies no longer exist, they influenced online shopping and music listening. Here are eight companies that went public in 1999.
1. Actua Corporation
The venture capital company Actua Corporation existed. The company’s market capitalization reached over $50 billion during the dot com bubble. Actua Corporation replaced Internet Capital Group, Inc. as the organization’s official name in September 2014.
The company declared bankruptcy in 2018. The business issued 14.9 million shares at a price of $12 in an IPO in August 1999, turning it into a publicly traded company. More than $200 million was made when the corporation sold IBM 7.5 million additional shares.
One million shares from the IPO were purchased by Dell Computer. The House of Saud, the Penske family, Amerindo Investment Advisors, and David Bonderman was prominent investors at this point. The biggest stakeholder was Safeguard Scientifics.
2. Domino’s Pizza Group
Domino’s Pizza Group plc, a UK-based master franchise of Domino’s Pizza, is a publicly traded company on the London Stock Exchange. It is a global pizza chain with over 15,000 locations, headquartered in Michigan. The company also owns Pizza Hut and Domino’s brands.
The IPO of the company was in 1999. The company priced at $17 per share and raised $147 million in the offering. The stock closed up 31% on its first trading day at $22 per share.
3. D&B Hoovers
D&B Hoovers, a business research firm, was founded by Gary Hoover and Patrick Spain in 1990. In 2003, it was acquired by Dun & Bradstreet and operated as a subsidiary. In 2017, the company rebranded its main product platform to D&B Hoovers.
Short Hills, NJ is where Dun & Bradstreet is headquartered. Austin, Texas is where D&B Hoovers handles sales and technology. In 1999, Hoovers went public on NASDAQ. Later, Dun & Bradstreet bought Hoover’s for $119 million in 2003.
4. HCL Technologies
HCL Technologies, also known as Hindustan Computers Limited, is a Noida-based global IT services provider. It became an independent entity in 1991, focusing on software services. With offices in 50 countries, HCL employs about 187,000 people.
On the Forbes Global 2000, HCL Technologies is listed. With a market capitalization of $50 billion as of September 2021, it is one of India’s top 20 most valuable publicly traded firms. The corporation and its subsidiaries have a combined yearly revenue of 71,265 crores (US$10 billion) as of July 2020.
5. WESCO International
WESCO Distribution, a global provider of power distribution and services with headquarters in Pittsburgh, Pennsylvania. Held by WESCO International, Inc., an American publicly traded Fortune global 500 holdings limited.
This company supplies building materials and various other products, and made nearly $17 billion in profits in 2019. It has over 150,000 clients, 18,000 workers, and 30,000 suppliers globally.
Industrial and commercial companies, builders, governmental organizations, organizations, telecom companies, and utilities are just a few of WESCO’s clients. In North American and foreign markets, WESCO runs 500 branches and 10 completely automated distribution facilities.
6. United Parcel Service
United States-based UPS, founded in 1907, is a global shipping and supply chain management company. Formerly known as the American Messenger Company, it began as a telegraph specialist and is now a leading Fortune 500 firm in the courier industry.
UPS is famous for ground shipping and the UPS Store, which supports shipments and sells equipment. They also offer overnight and two-day air shipping and deliver to post office boxes through UPS SurePost, a subsidiary that transfers bundles to the USPS.
7. WWE
WWE, a wrestling promotion, expands into American football, movies, and licensing its intellectual property for video games and action figures.
Titan Sports, Inc. became World Wrestling Federation Entertainment, Inc. in 1999 and started trading on the NYSE on October 19. They issued stock worth $172.5 million and their ticker symbol is WWE.
8. The Knot Worldwide
The Knot Worldwide is an American company providing information, resources, goods, and services to couples. It generates revenue through publishing, retailing, register services, and web advertising. Formed in 2019, it is the result of the merger of XO Group, The Knot Inc., and WeddingWire.
In collaboration with QVC, the business introduced an online gift registry. In addition, it released The Knot Complete Guide to Weddings in the Real World, its first book. The business raised $35 million in its first public offering in December 1999.
Final Thoughts
In 1999, many companies went public. This infographic shows a few prominent ones, but there are more to discover through research. The deeper you dig, the greater the chance of finding valuable investments.
