Day in Tech History

Red Hat Goes Public

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Day in Tech History

Jeffrey Powers

Madison, WI

Description: Technology History in a Daily Podcast

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Red Hat Goes Public

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RedhatAugust 11, 1999: Redhat files IPO

Red Hat is a Linux distribution  and a vendor. They are on the S&P 500 company list for it. Founded in 1993, this company has provided a more professional type of open source software – giving pay support and Enterprise editions for IT pros. CEO Bob Young brought the company to this point. They filed for IPO in 1999. It turned out to be one of the largest Wall Street Gains in history. They put up 900,000 shares of common stock. Red Hat spiked at $136 a share, but is currently at $57

Also, Palm released the Palm VIIx and Vx handheld computers. VIIx was $449 and the Vx was $399.

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