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From Crisis to Opportunity: Companies That Had Their IPO in 2009
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2009 was a significant year for the global financial landscape. Amidst the aftermath of the financial crisis, several firms made their mark by launching their Initial Public Offerings (IPOs). This article highlights some of the most notable companies that had their IPO in 2009 and their subsequent journeys.
Key Insights
Market Resilience: Despite the 2009 financial downturn, numerous companies successfully launched IPOs, showing market resilience amidst global challenges.
Government Support: In response to the economic crisis, governments worldwide implemented supportive monetary and fiscal policies, aiding the financial environment for these IPOs.
Industry Diversity: The 2009 IPOs spanned various industries, from technology to hospitality, indicating a broad market adaptability.
Dynamic Evolution: Post-IPO, many of these companies underwent significant changes, including mergers and acquisitions.
Coming Out of The Financial Crisis
In 2009, following the financial crisis, the global economy experienced a significant downturn. Global output decreased by 2.9%, and world trade declined by nearly 10%. Private capital flows were also severely impacted, dropping from $707 billion in 2008 to about $363 billion in 2009. Developing countries, while performing better than richer nations, still faced a major slowdown in GDP growth.
This led to governments around the world responding with monetary policy changes, fiscal stimuli, and banking industry support. Despite this economic backdrop, the year also saw some notable IPOs, reflecting a glimpse of market resilience and potential recovery paths. Let’s take a closer look at nine of them.
Nine of The Most Notable IPOs in 2009
1. OpenTable
IPO Date: May 21, 2009
Raising: $60 million
Overview: A revolutionary restaurant reservation platform, OpenTable was acquired by Booking Holdings Inc. in 2014. It continues to dominate the restaurant booking industry, benefitting from the post-pandemic resurgence in dining out.
2. Rosetta Stone
IPO Date: April 2009
Raising: $112 million
Overview: Known for its language-learning software, Rosetta Stone had a successful IPO but faced challenges in recent years due to increased competition. It continues to expand its product range and services globally.
3. Bridgepoint Education (Now Zovio Inc.)
IPO Date: April 2009
Raising: $138 million
Overview: An online education company, Bridgepoint Education faced regulatory scrutiny but continued to grow. In 2018, it rebranded as Zovio Inc., focusing on educational technology.
4. RealPage
IPO Date: June 2009
Raising: $124 million
Overview: Offering property management solutions, RealPage experienced significant growth, with revenues exceeding $1 billion in 2019. It was acquired by Thoma Bravo in 2021.
5. Ancestry.com
IPO Date: November 2009
Raising: $100 million
Overview: A genealogy website, Ancestry.com expanded its offerings and was acquired by Blackstone Group in 2020. It remains a popular resource for family history research.
6. The Vitamin Shoppe
IPO Date: October 26, 2009
Raising: N/A
Overview: Specializing in health and wellness products, The Vitamin Shoppe continues to serve customers through both physical stores and an online platform. The company was acquired by Franchise Group in 2023.
7. Changyou.com
IPO Date: April 2009
Raising: $120 million
Overview: A Chinese online gaming company, Changyou.com was later taken private by Sohu.com in a deal valued at approximately $579 million.
8. Emdeon (Now Change Healthcare)
IPO Date: August 2009
Raising: $367 million
Overview: Providing healthcare technology solutions, Emdeon was acquired by Blackstone Group and later became part of OptumInsight after its acquisition by Optum in 2020.
9. Hyatt
IPO Date: November 4, 2009
Raising: $950 million
Overview: A global hospitality company, Hyatt has continued to expand its presence in various markets and is capitalizing on the resurgence of travel post-pandemic.
Conclusion
The IPOs of 2009 reflect a diverse array of industries, from technology to hospitality. Many of these companies have undergone significant transformations, mergers, and acquisitions, showcasing the dynamic nature of the market. Their journeys post-IPO provide valuable insights into the challenges and opportunities that new public companies might face. As we look back, it's evident that these IPOs have played a crucial role in shaping their respective sectors, offering valuable lessons for future market entrants.
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