MicroStrategy’s creator, Michael Saylor, stayed in a penthouse suite at the Lotte New York Palace in Midtown Manhattan on the eve of the company’s June 1998 stock market debut.
Saylor, 33 at the time, claims that the hotel suite, which was funded by main underwriter Merrill Lynch, was the most luxurious he had ever seen.
Saylor saw the opening of his company’s shares on the Nasdaq floor the following morning. He remembered a notice that read, “Please do not confuse MSTR with MSFT,” flashing across the ticker.
The latter belonged to Microsoft, the massive software company that had gone public thirteen years prior.
As another software company to profit from the dot-com bubble, MicroStrategy’s shares soared 76% in their first day of trading.
Source (CNBC)
