What are some of the companies That Had Their IPO In 2001? Having your company go public is an exciting moment for any entrepreneur. The Securities and Exchange Commission (SEC) requires a great deal of paperwork. As well as compliance to earn the coveted “New York Stock Exchange” ticker symbol. The year 2001 saw many large failures and small successes. And also the beginnings of the big companies we know today. Here are some of the notable companies that went public in 2001 along with their current market capitalization.
8 Companies That Had Their IPO In 2001
The year 2001 was a monumental one in the history of the technology sector. The tech bubble had burst, but it was still a time of great innovation and expansion for the industry. Here are eight companies that went public in 2001:
1. Align Technology
While undergoing adult orthodontic treatment, Zia Chishti, the pioneer of Align Technology, came up with the fundamental concept for Invisalign. He proposed that a number of such devices could result in a massive ultimate placement. In a series of small movements during his treatment with a retainer meant to finish his therapy. Together with Kelsey Wirth, he looked for developers.
Invisalign received FDA approval in 1998, and American sales of the product started in 1999. Between 1997 and 2000, $140 million in venture money was raised. Then another $130 million was raised in an IPO in 2001. According to Align Technology, 2.4 million patients had received treatment with Invisalign as of 2014. So 80,000 dentists had received training in its use.
2. Galyan’s Trading Company
Sporting goods retailer Galyan’s Trading Company was based in America. Its founding took place in Plainfield, Indiana. Albert and Naomi Galyan launched the business in 1946 as a food store. In the 1960s, the Galyan’s switched to retailing services and goods.
In 1995, The Limited bought the chain. The Limited sold 60% of the business to the investment group of Freeman, Spogli & Company in 1999. Therefore, the chain had expanded to 20 locations from its initial five. After releasing its IPO on NASDAQ in 2001, the company started being traded openly. Mountain climbing walls, golf simulations, and archery facilities could be found in a lot of the establishments.
3. Exact Sciences Corp.
Exact Sciences Corp. is a molecular diagnostics business that focuses on the identification of tumors in their early stages. Initially concentrating on the early diagnosis as well as treatment of colorectal cancer. The business introduced Cologuard in 2014, the first stool DNA test for the disease. Since then, Exact Sciences has expanded the scope of its product line. To include precision oncological testing and further cancer screening assays.
Exact Sciences was established in 1995 by Stanley Lapidus and Anthony Shuber in Marlborough, Massachusetts. With the goal of creating a non-invasive diagnostic for colorectal cancer. In 2001, the business finally went public with a NASDAQ initial public offering.
4. Burberry
Burberry is a high-end British fashion brand with its headquarters in London. These days, it creates and sells ready-to-wear items. Such as trench coats, leather products, apparel, clothing and accessories, eyeglasses, perfumes, and cosmetics.
Thomas Burberry founded the company in 1856, initially concentrating on the production of outdoor clothing. Since then, the company has expanded into the high fashion industry, creating gabardines and goods manufactured specifically for the brand.
In 1891, the Haymarket in London saw the opening of its first store. Burberry was a stand-alone, family-run business until it was reincorporated in 1955. It finished demerging from GUS plc, the business’s previous dominant stakeholder, in 2005. Barnett oversaw the business’ successful IPO in 2001.
5. Accenture plc.
Accenture plc is a Dublin-based Irish-American business services firm that specializes in information technology (IT) solutions and consulting. It is a Fortune Global 500 corporation with revenues of $50.53 billion in 2021. Accenture currently has 91 Fortune Global 100 clients and more than three-quarters of the Fortune Global 500.
Accenture’s initial public offering (IPO) was priced at $14.50 per share on July 19, 2001. So the shareholdings started trading on the NYSE Stock Market; its principal underwriters were Goldman Sachs and Morgan Stanley. Accenture closed the day at $15.17, with a high of $15.25. So the accenture raised approximately $1.7 billion on the first day of its IPO.
6. Inditex
Industria de Diseo Textil is a Spanish international apparel firm based in Arteixo, Galicia. Inditex, the world’s largest fast fashion conglomerate, runs approximately 7,200 outlets in 93 countries. Zara is the company’s flagship shop. Although it also includes Zara Home, Massimo Dutti, Bershka, Stradivarius, Oysho, Pull&Bear, Uterqüe, and Lefties. The bulk of its outlets is corporate-owned. However, the franchises are mostly granted in countries where corporate properties cannot be controlled by foreigners.
Inditex made its initial public offering on the Bolsa de Madrid in 2001. The IPO sold 26% of the corporation to public investors, valuing the company at €9 billion. The same year, the business opened Oysho, a lingerie and women’s clothing store.
7. Omnicell, Inc.
Randall A. Lipps started Omnicell Technologies, Inc. in September 1992. After his daughter was confined at delivery, he noticed nurses having trouble obtaining medical products. So he created a prototype of a technology that automated inventory control chores. Nurses conducted it regularly with the support of graduate students from Stanford University.
In 1993, with Lipps as chairman, the group launched commercially manufacturing automated supply cupboards. The cabinets could track things such as transaction information, inventory status, costs, and patient billing. Sales hit $7.7 million at the end of 1995 and then climbed to $21.5 million the next year. In 1996, the company broadened its offerings by producing pharmacy automation systems for distributing drugs.
8. Advance Auto Parts
Advance Auto Components, Inc. is a manufacturer of automotive aftermarket parts in the United States. It is based in Raleigh, North Carolina, and caters to both professional installers and do-it-yourself customers. The advance had 4,912 stores and 150 Worldpac offices in the United States and Canada as of July 13, 2019. In addition to these sites, the Company supports 1,250 independently owned Carquest branded stores in Mexico. As well as the Bahamas, Turks and Caicos, and the British Virgin Islands.
Advance Auto Parts purchased Carport Automotive Parts, a provincial retail chain with 29 locations. Mainly in Alabama and Mississippi in April 2001. Advance bought Discount Auto Parts, Inc. on November 28. A statewide auto parts chain with 671 locations in Alabama, Florida, South Carolina, Louisiana, and Georgia. Following the conclusion of this merger, Advance Auto Parts was becoming a publicly traded business. With common stock trading under the ticker AAP on the New York Stock Exchange. The year came to a close with 2,484 stores in 38 states.
Final Words
If you were on the fence about investing in a company that had its IPO in 2001, it looks like it would have worked out pretty well. After all, companies that went public between 2000-2001 saw big returns on their stocks in years past. Obviously, we can’t say this is going to happen for every company. But it probably isn’t a bad idea to look at IPOs from this time period when considering your investments.
