What are some of the companies that had their IPO in 1997? Making good on a promise is a difficult undertaking, and expertise in all areas is essential to attain continuously. The financial power, income statement stability, market potential, huge competitive placement, effective management team, workable strategy, and perseverance to withstand any type of adverse reactions are just a few of the things that companies highlight when they offer their stocks to the general public in the pattern of an IPO.
Investors will rush to companies in droves if they like the businesses and the claims they make, which will make the IPO a huge success. Welcome to our list of companies that went to their IPO in 1997. This list features the biggest companies to go public that year. Some of these companies are still around today while others have been acquired by larger corporations or private equity firms. There were a lot of mergers and acquisitions in the 90s, which might have resulted in some companies going public that otherwise might not have.
8 Companies That Went to Their IPO In 1997
In 1997, the Internet was still a relatively new technology and many people were skeptical of its value. But some companies saw the potential in online business and went public with their stocks. Here are the 8 companies that went public in 1997:
1. Amazon Inc.
The American multinational technology corporation Amazon.com, Inc. specializes in cloud services, digital broadcasting, machine intelligence, and e-commerce. Among the most powerful companies in the world, it has been called “one of the most significant financial and cultural powers in the globe.” Along with Microsoft, Meta, Alphabet, and Apple, it is one of the Big Five American technological firms.
The online retailer went public on May 15, 1997, raising $54 million at $18 per share. The stock surged to $23.25 on its first day of trading, making it one of the top 10 largest IPOs in history at the time. Today, Amazon is worth more than $700 billion and employs more than 560,000 people worldwide.
2. C.H. Robinson Worldwide, Inc
C.H. Robinson is a Fortune 200 American company that offers third-party logistics and multi-modal transport services (3PL). According to 2020 Logistics Net Income, it is now the biggest third-party logistics company in the United States. The company provides trading, warehousing, transportation of goods, and transportation management. It provides truckload, less than cartload, air transport, intercontinental, and ocean shipping.
In 1997, the business changed its name to C.H. Robinson Worldwide, Inc., and it held an initial public offering (IPO) to raise $190 million for the 101 workers who sold shares. The company started dealing on NASDAQ under the ticker CHRW, with an original market rate of $743 million. In 1997, total profits were $206 million, a 15.1% rise from the previous year, while total revenues were $1.79 billion.
3. Children’s Place Inc
The children’s apparel retailer went public on September 19, 1997, with an IPO price of $14 per share. The stock closed at on its first day of trading, giving it a market capitalization of $4 billion. The company raised about $56 million in the IPO and used the funds for general corporate purposes, including working capital and capital expenditures.
A specialized retailer of children’s clothing and accessories with its corporate office in New Jersey is called The Children’s Place Inc. Additionally, it sells clothing under Children’s Place, Place, the Gymboree, and Baby Place trademark.
By October 31, 2015, it had 90 overseas stores run by its franchise partners in 12 nations, as well as 955 stores running in the United States, Canada, and Puerto Rico. It also had an online store at www.childrensplace.com.
4. Ralph Lauren Corp
The American fashion business Ralph Lauren Corporation was established in 1967 by Ralph Lauren, a well-known American costume designer. The corporation, which has its headquarters in New York City, manufactures goods for the mid-range to premium markets. They are renowned for their marketing and supply of goods in the four themes of clothing, cosmetics, home goods, and perfumes. Mid-range Fellas, Double RL, sub-premium Lauren Ralph Lauren, Ralph Lauren Kidswear, Denim & Supply Ralph Lauren, and full-luxury Ralph Lauren Purple Label, premium Polo Ralph Lauren, and Ralph Lauren Collection are only a few of the company’s brands.
In 1997, the company went public by issuing $29 million shares at $26 per share and raised $767 million in its initial public offering (IPO). The company’s stock price increased by more than 100 percent on its first day of trading.
5. TD Ameritrade Holding Corp.
Stockbroker TD Ameritrade provides an electronic trading system for the dealing of financial assets, such as ordinary shares, preference shares, futures markets, exchange-traded funds, currencies, options, mutual funds, fixed-income securities investments, margin loans, and cash management solutions. In addition to commissions for completing orders, the business also cash settlement for order flow and interest expense on margin holdings
TD Ameritrade has been a leader in the industry ever since and is one of the largest online brokerages today. TD Ameritrade Holdings Corp., which owns the TD Ameritrade brand, went public in 1997 and has a market cap of $36 million.
6. Rambus Inc.
The 1990-founded American technology business Rambus Incorporated creates, develops, and licenses semiconductor interface technologies and architectures for use in consumer electronics products. The business is well recognized for both developing RDRAM and for engaging in legal disputes relating to the intellectual property once DDR-SDRAM memory was first introduced.
Rambus Inc., which makes semiconductor memory products, raised $33 million in an IPO in May 1997. Rambus priced its shares at $12 each but traded as high as $29 on its first day of trading. Before closing at $25.75 per share. The company’s shares have been trading between $4 and about $6 since then; they’re currently worth about $3 apiece.
The American software company Genesys, also known as Genesys Telecommunications Laboratories, Inc., offers consumer experience (CX) and call center technologies to semi and big companies. It offers software that is both cloud-based and hybrid. The business was established in 1990, and in February 2012, Permira Funds and Technology Crossover Ventures (TCV) bought it.
Gregory Shenkman and Alec Miloslavsky started Genesys in October 1990. The families of the owners loaned the company $150,000 as initial money. The business was successful its initial public offering (IPO) in June 1997. And then went public through the NASDAQ under the ticker GCTI.
8. EPR Properties
Real estate investment trust EPR Facilities, originally known as Entertainment Properties Trust, is based in Kansas City, Missouri. And operates in theme parks, cinema halls, ski resorts, and other entertaining assets. As of 2022, it had 353 homes.
Executives from AMC Entertainment Peter Brown and David Brain founded the Entertainment Properties Trust. After being unable to locate an existing REIT to assist in funding AMC’s theater construction, they made the decision to create a REIT that specializes in megaplex movie theaters. On August 22, 1997, the business became a legal entity. The $278 million from its IPO in November 1997 was mainly for general corporate purposes. In sale-and-leaseback deals, Entertainment Properties had acquired 13 AMC cinemas by the month of March 1998.
Thanks for reading about the companies that had their IPO in 1997. There are many companies from this era that still exist today, though most have adapted significantly since their IPO to fit the times. There were many steps along the way, and it’s interesting to see how these companies have come from humble beginnings to become some of the biggest in the world.