The stock market was booming in 1998, and many businesses saw an opportunity to go public. The year saw the most critical I.P.O.s in history, with many tech and energy companies leading. Plains All American Pipeline splashed with its successful I.P.O. Let's dig deeper into the 1998 stock market!

1. N.T.T. Mobile Communication Network

Companies that had their IPO in 1998

N.T.T. Docomo, Inc. is a Japanese mobile communication company headquartered in Tokyo, Japan, offering mobile phones, the Internet, and other related services. On October 22, 1998, it went public on the Tokyo Stock Exchange under the "9437" ticker, offering 2.4 million shares at 2.5 million yen per share, raising 1.2 trillion yen ( $10.26 billion). 

The proceeds from the I.P.O. helped expand N.T.T. Docomo's mobile phone network and services. Developing the third-generation (3G), fourth-generation (4G), and fifth-generation (5G) mobile technologies allows for faster internet browsing and other advanced features.

2. Cognizant

Companies that had their IPO in 1998

Cognizant is a leading multinational corporation that provides consulting, I.T., and business process outsourcing services in New Jersey, U.S.A. It has delivery centers in North America, Europe, and Asia and operates in over 40 countries. 

On February 8, 1998, it went public on the NASDAQ exchange, offering 5,400,000 Class A common stock shares for $16 per share, raising $34 million. The I.P.O. aided in the expansion of its business operations, making it one of the largest I.T. companies. 

3. eBay

Companies that had their IPO in 1998

eBay is an e-commerce corporation that operates a global online marketplace connecting buyers and sellers worldwide, with its headquarters in California. eBay began as an online auction site but has since evolved into a full-fledged e-commerce platform with various products and services.

On September 21, 1998, eBay went public, offering 3.5 million shares of common stock for $18 per share, raising $63 million for the company trading on the NASDAQ under "EBAY." eBay has used the proceeds from its I.P.O. to fund growth, expansion initiatives, and investments in technology and marketing, including strategic acquisitions, technology development, and marketing efforts.

4. Global Crossing

Global Crossing is a telecommunications company constructing and operating a global fiber-optic network connecting North America, Europe, and Asia. 

On August 24, 1998, it went public with an I.P.O. of 35 million shares priced at $19 per share, raising $399 million trading under the symbol "GBLX." The proceeds helped expand the company's fiber-optic network and invest in other telecommunications ventures. 

5. The was one of the first social networking sites, allowing users to create profiles, connect with friends, and participate in discussion groups. The went public on November 13, 1998, with the company trading on the NASDAQ under the symbol TGLO. The company raised $27.9 million by selling 3.1 million shares at $9 each. Bear Stearns and Lehman Brothers served as the I.P.O.'s underwriters.

On the first trading day, the stock price of the I.P.O. increased by over 600%. The I.P.O. proceeds funded the company's expansion, which included acquiring other internet properties and developing new services. 

6. Columbia Sportswear

Columbia Sportswear, a brand of outdoor clothing based in Portland, Oregon, is known for producing high-quality outdoor gear such as jackets, boots, and camping equipment. It went public on December 6, 1998, with 3.5 million shares priced at $18 each, raising $100.8 million by listing its shares on the NASDAQ stock exchange under the symbol COLM.

The I.P.O. proceeds paid down debt, invested in new products, and expanded its global reach. Columbia Sportswear has expanded its product offerings by introducing new footwear and outdoor accessories lines. The company's global reach has grown, with operations in Europe, Asia, and South America.

7. Double Click 

DoubleClick was a New York-based digital advertising company whose primary business was to provide ad management and delivery services to online publishers, advertisers, and marketers. On February 11, 1998, the company went public on the NASDAQ stock exchange under the DCLK ticker. 

The I.P.O. price was $17 per share, and the company issued 2.5 million shares, raising $60 million—the I.P.O. proceeds funded R&D, sales and marketing, and general corporate purposes. Increase technology investment, and support potential acquisitions. DoubleClick's I.P.O. allowed it to raise significant capital, grow, and become a major player in the online advertising industry.

8. The Ultimate Software

This company (now known as U.K.G. Inc.) was a leading software solution provider for cloud-based human capital management (H.C.M.) based in Weston, Florida. It provides a comprehensive suite of H.R., payroll, talent management, employee engagement, and workforce management software solutions.

The company went public in 1998 with an I.P.O. of 2.5 million shares priced at $14 per share listed on the NASDAQ under the "ULTI" ticker, raising $32.5 million. The proceeds funded the company's growth initiatives, including research and development, sales and marketing, debt repayment, and general corporate purposes. The merger with Kronos has solidified the company's position as the market leader in H.C.M. software.

9. Plains All American Pipeline Company 

Plains All American Pipeline, based in Houston, Texas, is a publicly traded pipeline transportation and storage company. The company is among the largest midstream companies in North America, with over 18,000 miles of pipeline and 120 million barrels of storage capacity.

On October 16, 1998, the company went public with 13.5 million shares priced at $18.50 per share, raising approximately $1.5 billion in proceeds. The I.P.O. repaid debt and funded the company's capital expenditure program, including constructing and acquiring pipelines and storage facilities. Since then, the company has used significant cash flow to support growth initiatives such as investments and capital expenditures.


1998 witnessed the formation of some of the world's largest and most influential corporations changing how we work, live, and communicate. None, however, has had a more significant impact on the energy industry than the Plains All-American Pipeline.

With its initial public offering, the company established itself as a powerful player in the midstream sector, and it has since grown and expanded its operations. Looking back on the 1998 I.P.O. class, it's clear that these companies left an indelible mark on the business world, and their legacies will be for generations to come.