- Hambrecht & Quist
Hambrecht & Quist (H&Q) was an
investment bank based inSan Francisco, California noted for its focus on the technology and internet sectors. H&Q was founded byWilliam Hambrecht andGeorge Quist in California, 1968.H&Q was an early player in the technology sector, underwriting
IPO s forApple Computer ,Genentech andAdobe Systems in the 1980s. In the 1990s, H&Q also backed theIPO s ofNetscape ,MP3.com , andAmazon.com . [cite news|url=http://www.motherjones.com/news/special_reports/mojo_400/64_hambrecht.html?welcome=true|title= William R. Hambrecht (with Sally)|date=2001-03-05|publisher=Mother Jones|author=Scherer, Michael]Competition in the investment banking industry in the late 1990s limited H&Q's ability to grow as an independent firm and in 1999 Hambrecht & Quist was acquired for $1.35B by
Chase Manhattan Bank . H&Q was renamed Chase Securities West and is currently part ofJPMorgan Chase . [ [http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/1999/09/29/MN74839.DTL Big S.F. Bank Sold to Chase In New York] (San Francisco Chronicle, 1998)]After leaving H&Q, founder Bill Hambrecht popularized the "
OpenIPO " model, in whichDutch auction s allowed anyone, not just investing insiders, to buy stock in an IPO, potentially raising more money for startups. Among the companies that adopted this model wereOverstock.com ,Ravenswood Winery andSalon Media Group [cite web|url=http://www.fastcompany.com/magazine/103/open_34-hambrecht.html|title=2006 Fast 50|publisher=fastcompany.com|accessdate=2007-05-30]ee Also
*
WR Hambrecht + Co - investment bank founded byWilliam Hambrecht after acquisition of H&QReferences
Wikimedia Foundation. 2010.