Best and Worst IPOs of All Time Some Companies Soar, Others Tank
Starbucks The Seattle coffee giant is perhaps the best example of what an IPO can do for a growing company. If Starbucks hadn’t gained the infusion of capital that comes with going public, it would’ve taken a lot longer to put outposts in every American neighborhood. Groupon Often, a company’s success is based on the larger market environment. When Groupon launched in November 2008, American consumers dealing with a financial crisis were hungry for discounts. As a result, Groupon flourished. Groupon was so successful that it rejected a takeover bid by Google in 2010. When the company went public a year later, it seemed THE WORST:
The decision to go public is a turning point for many companies. An IPO signifies the end of one chapter for a company and the beginning of another. The advantages in terms of raising capital are clear, but some companies end up jumping the gun and ruining their momentum. Being publicly traded comes with a lot of added pressure and a mandate to keep shareholders happy. Sometimes, a company hits a home run with their IPO. Other times, they strike out. Amazon.com Jeff Bezos’ company had already begun to change the nature of retail when it went public in May of 1997. Investors didn’t have a hard time believing that Amazon was the future and jumped at the chance to acquire stock. The company grew 1,000 percent in four quarters, setting records at the time. THE BEST:
like a savvy move. Groupon went public at $20 per share. Just over a year later, it was trading at a quarter of that price, and hasn’t neared that initial price since. Pets.com There’s nothing like the spotlight of public trading to reveal less-than-profitable practices. You might remember the Pets.com sock-puppet mascot and advertising in the late ’90s and early 2000s. By all appearances, Pets.com was on fire. Turns out, they were actually closer to setting money on fire. The regulatory filings that are required for public companies revealed that Pets.com was spending money much faster than any company could sustain. Just 268 days after offering public shares, Pets.com was in liquidation.
Sudoku
The Best Steakhouse in Orange County A perfectly cooked steak and glass of red wine is a timeless pairing. There’s no better place to experience this particular pleasure in Orange County than at Vaca in Costa Mesa. When a restaurant takes its name from the Spanish word for cow, you can probably guess beef will be the featured attraction, but that is just one facet of Vaca’s extensive, authentic Spanish menu. From the first order of tapas to the last bite of postres, Vaca will transport you across the Atlantic. From the moment you open the wine and cocktail list, Chef Amar Santana’s vision is clear. Vaca is an ode to Spanish cuisine and dining culture without concession or compromise, and it’s all the better for it. Rather than a globe-spanning wine list, Vaca’s dives deep into Spanish wines, with a focus on cava, albarino, and tempranillo. The variety of the latter is particularly impressive, including multiple selections from the renowned wineries Bodegas R. Lopez de Heredia and Pingus. The menu is equally staggering, with more options than you could explore in multiple visits. There are more than two dozen tapas, including delicious croquetas de bacalao (cod fritters) and lamb meatballs that will disappear from your table. There are also menu
sections devoted to jamon (think Spanish prosciutto), cheese, and paella. It’s hard, though, not to order one of the many steaks available. All are exceptional, but the beef rib steak — aged for over 50 days — is otherworldly. For many restaurants, being the best steakhouse in Orange County would be enough. But for Vaca, it’s just one of many ambitions, and it delivers in spades.
www.MilanTorres.com | 3
Made with FlippingBook - Online Brochure Maker