The IPO market in 2001 looked nothing like the frenzy of the late ’90s. After the dot-com crash, investors were cautious, valuations were lower, and only the strongest companies dared go public. Adding to the turbulence, the September 11 attacks sent markets reeling and tested investor confidence.
| Company | Ticker | IPO Price | Current Price* | Total Return |
| Priceline.com (now Booking Holdings) | BKNG | $16.00 | $5,438.02 | +33,963% |
| Chipotle Mexican Grill | CMG | $22.00 | $3,264.44 | +14,738% |
| Salesforce | CRM | $11.00 | $242.76 | +2,107% |
| Vertex Pharmaceuticals | VRTX | $20.00 | $390.11 | +1,851% |
| Seagate Technology | STX | $12.00 | $209.55 | +1,646% |
| Expedia Group | EXPE | $14.00 | $223.54 | +1,497% |
| Genomic Health (acquired by Exact Sciences) | GHDX | $18.00 | N/A (Acquired) | N/A |
| Vonage | VG | $17.00 | N/A (Acquired) | N/A |
| Under Armour | UAA | $13.00 | $4.87 | -63% |
| JetBlue Airways | JBLU | $27.00 | $5.01 | -81% |
Despite the challenges, a handful of companies listed that year went on to thrive. Names like Chipotle, Genentech spin-offs, and especially Priceline (later Booking Holdings) proved that the IPO market wasn’t dead; it was just weeding out the weak. The survivors leaned on solid business models and long-term growth, rather than hype.
Two decades later, the class of 2001 shows that even in tough times, great companies find their way to the public markets. Below, we break down 10 of the most notable IPOs of 2001, their journeys since, and what investors can learn from them.
1. Chipotle Mexican Grill (CMG)
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Chipotle went public at $22, positioning itself as a fresh, fast-casual alternative to traditional fast food. After a recent 50-for-1 stock split, its pre-split equivalent price is around $3,264.44, a mind-boggling +14,738% return accounting for the split! If you had invested $1,000 at the IPO, it would be worth over $148,000 today.
2. Salesforce (CRM)
Salesforce IPO’d at just $11, pioneering the concept of software-as-a-service (SaaS). After a 4-for-1 stock split, the stock is now trading at about $242.76, up a phenomenal +5,751.9%. A $1,000 investment at the IPO would be worth over $21,000 today.
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3. Vertex Pharmaceuticals (VRTX)
Vertex came to market at $20 with a focus on biotech innovation. Shares today sit at $392.64, a +1,863% gain. If you had invested $1,000 at the IPO, it would be worth over $19,600 today, a significant sum for anyone.
4. Priceline.com/Booking Holdings (BKNG)
Priceline’s IPO at $16 came just as dot-com skepticism was peaking. But at $5,523.00, the stock is up a stunning +34,419%, cementing it as one of the greatest IPOs of all time. Your $1,000 investment would have grown to over $345,000 today.
5. Expedia (EXPE)
Expedia was listed at $14, spinning out of Microsoft’s travel division. The stock has grown to $224.48, a +1,503% return, despite ups and downs in the travel industry. If you had invested $1,000 at the IPO, it would be worth over $16,000 today.
6. Seagate Technology (STX)
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Seagate IPO’d at $12, focusing on hard drives and storage solutions. Now at $211.12, it’s delivered a +1,659% gain accounting for stock splits. A $1,000 investment at the IPO would have grown to over $17,500 today.
7. Genomic Health (Acquired)
Genomic Health was priced at $18 and specializes in genomic testing for cancer. It was later acquired by Exact Sciences for a total of $63.77 per share, rewarding investors who held through the buyout. If you had invested $1,000, your investment would have been worth about $3,540 at the time of the buyout.
8. JetBlue Airways (JBLU)
JetBlue IPO’d at $27, offering low-cost flights with better service than legacy carriers. But at $4.91 today, shares are down 82% accounting for previous stock splits. A $1,000 investment at the IPO would be worth about $181 today.
9. Vonage (Acquired)
Vonage was listed at $17, hyped as a VoIP disruptor. It was eventually acquired by Ericsson for about $21 per share, giving IPO investors a modest +24% gain. A $1,000 investment at the IPO would have grown to about $1,235 at the time of the buyout.
10. Under Armour (UAA)
Under Armour IPO’d at $13, quickly becoming a rising sportswear brand. But at $4.86 today, shares are down 63%. A $1,000 investment at the IPO would be worth about $374 today.
What the 2001 IPO Winners Have in Common
The standout performers of 2001, Chipotle, Salesforce, Vertex, and Priceline, all had something in common: they reshaped entire industries. Whether it was food, software, biotech, or travel, they tapped into secular growth trends and scaled globally.
By contrast, the laggards like JetBlue, Under Armour, and Vonage struggled with competitive pressures or cyclical industries. Their stories show that strong branding or early hype isn’t enough without durable advantages.
The class of 2001 may have started in one of the toughest IPO markets in history, but it produced some of the best long-term winners investors have ever seen. Booking Holdings (+34,419%) and Chipotle (+14,738%) rank among the greatest IPO investments of all time. Meanwhile, Salesforce and Vertex proved the enduring power of software and biotech.
On the flip side, airline, apparel, and telecom IPOs mostly underperformed, reinforcing that not every growth story lasts. The lesson from 2001 is clear: even in rough markets, innovative companies with sticky models and global potential can deliver life-changing returns.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
