August 11, 2009

Red Hat Celebrates Its 10-year IPO Anniversary

Article Source The Open Road
August 11, 2009, 9:28 am

Ten years ago today on August 11, 1999, Red Hat saw its shares triple in an initial public offering that ushered in a new era of commercial open-source prosperity.

Iain Gray, then a Sun employee and now Red Hat's vice president of Global Support, writes nostalgically: "I remember sitting in the Sun office in UK watching the stock sky-rocket thinking the world had gone mad."

Indeed it had. Soon Red Hat's stock was to plummet to earth but not before the company learned a valuable lesson: there must be more than hype to make open source grow...

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