William R. Hambrecht (born 1935) is an American

investment banker Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by unde ...

and chairman of WR Hambrecht + Co which he founded in 1998. He helped persuade

Google Google LLC (, ) is an American multinational corporation and technology company focusing on online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, consumer electronics, and artificial ...

to use an Internet-based auction for their

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) in 2004, instead of a more traditional method using banks and other financial companies to find buyers. He is credited with popularizing this "

OpenIPO OpenIPO is a modified Dutch auction which allows shares of an initial public offering (IPO) to be allocated impartially. It is a variation on the traditional way that shares are sold during the IPO process and results in all successful bidders pay ...

" model, using

Dutch auction A Dutch auction is one of several similar types of auctions for buying or selling goods. Most commonly, it means an auction in which the auctioneer begins with a high offer price in the case of selling, and lowers it until some participant accep ...

s to allow anyone, not just investing insiders, to buy stock in an IPO, potentially raising more money for startups. Some of the companies he has helped have an IPO like this include

Overstock.com Beyond, Inc. (formerly known as Overstock, Inc.) is an American internet retailer, online retailer that owns the "Bed Bath & Beyond" brand except for within Mexico and the "Overstock" brand, and runs online stores named with those brands. The M ...

, Ravenswood Winery, Andover.net, and

Salon.com ''Salon'' is an American politically progressive and liberal news and opinion website created in 1995. It publishes articles on U.S. politics, culture, and current events. Content and coverage ''Salon'' covers a variety of topics, includ ...

. Hambrecht is also credited as one of the first major investment bankers to recognize the value of technology and biotech companies, helping to take

Apple Computer Apple Inc. is an American multinational corporation and technology company headquartered in Cupertino, California, in Silicon Valley. It is best known for its consumer electronics, software, and services. Founded in 1976 as Apple Computer Co ...

Genentech Genentech, Inc. is an American biotechnology corporation headquartered in South San Francisco, California. It operates as an independent subsidiary of holding company Roche. Genentech Research and Early Development operates as an independent cent ...

, and

Adobe Systems Adobe Inc. ( ), formerly Adobe Systems Incorporated, is an American software, computer software company based in San Jose, California. It offers a wide range of programs from web design tools, photo manipulation and vector creation, through to ...

public in the 1980s with his earlier

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

-based company

Hambrecht & Quist Hambrecht & Quist (H&Q) was an investment bank based in San Francisco, California noted for its focus on the technology and Internet sectors. H&Q was founded by Bill Hambrecht and George Quist in California, in 1968. H&Q was an early player i ...

, which he founded in 1968 and which also backed the IPOs of

Netscape Netscape Communications Corporation (originally Mosaic Communications Corporation) was an American independent computer services company with headquarters in Mountain View, California, and then Dulles, Virginia. Its Netscape web browser was o ...

MP3.com MP3.com was a website operated by Paramount Global publishing tabloid-style news items about digital music and artists, songs, services, and technologies. It is better known for its original incarnation as a legal, free music-sharing service, ...

, and

Amazon.com Amazon.com, Inc., doing business as Amazon, is an American multinational technology company engaged in e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. Founded in 1994 by Jeff Bezos in Bellevu ...

. The firm was bought by Chase Manhattan in 1999. In 1997, he sponsored the foundation of BOOM Securities (H.K.) Limited. Hambrecht is a 1957 graduate of

Princeton University Princeton University is a private university, private Ivy League research university in Princeton, New Jersey, United States. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial ...

, where he received an A.B. in History. He has been listed as one of the top political donors in the country, giving mostly to Democratic candidates, and credits

Nancy Pelosi Nancy Patricia Pelosi ( ; ; born March 26, 1940) is an American politician who was the List of Speakers of the United States House of Representatives, 52nd speaker of the United States House of Representatives, serving from 2007 to 2011 an ...

, whom he met in the 1970s, with inspiring him to get involved in politics. Hambrecht is on the board of trustees of the

American University of Beirut The American University of Beirut (AUB; ) is a private, non-sectarian, and independent university chartered in New York with its main campus in Beirut, Lebanon. AUB is governed by a private, autonomous board of trustees and offers programs le ...

Lebanon Lebanon, officially the Republic of Lebanon, is a country in the Levant region of West Asia. Situated at the crossroads of the Mediterranean Basin and the Arabian Peninsula, it is bordered by Syria to the north and east, Israel to the south ...

. He was on the Motorola board of directors from 2008 to 2011 and the

AOL Inc. AOL (formerly a company known as AOL Inc. and originally known as America Online) is an American web portal and online service provider based in New York City, and a brand marketed by Yahoo! Inc. The service traces its history to an online ...

board of directors from December 2010 to February 2011.

Professional football

In the 1980s Hambrecht was a minority investor in the

Oakland Invaders The Oakland Invaders were a professional American football team that played in the United States Football League (USFL) from 1983 through 1985. Based in Oakland, California, they played at the Oakland–Alameda County Coliseum. The team can t ...

, a charter member of the failed

United States Football League The United States Football League (USFL) was a professional American football league that played for three seasons, 1983 through 1985. The league played a spring/summer schedule in each of its active seasons. The 1986 season was scheduled to be ...

. In 2007 Hambrecht was again in the news for planning a professional football league, the United Football League. Along with AOL

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

Tim Armstrong Timothy Ross Armstrong (born November 25, 1965) is an American musician, songwriter and record producer. Known for his distinctive voice, he is the singer/guitarist for the punk rock band Rancid (band), Rancid and hip hop/punk rock supergroup T ...

, Hambrecht pledged $2 million to start the league up and arranged its original owners. On August 11, 2009, Hambrecht stepped forward to be the owner of the

Las Vegas Locomotives The Las Vegas Locomotives (called the Locos for short) were a professional American football team based in Las Vegas Valley, Las Vegas, Nevada that played in the United Football League (2009–2012), United Football League. The team played their ...

franchise. The league remains under his overall leadership and direction. The William Hambrecht Trophy, awarded to the winner of the

UFL championship game The UFL championship game is the annual championship game for the United Football League (2024), UFL at the end of its season in order to determine its league winner for that season. It began in 2024 and has continued ever since, usually taking pl ...

, is named in his honor. Hambrecht was sued in the spring of 2013 for payment due 138 players and former coaches who did not receive their 2012 salaries. He lost the case in Las Vegas courts.

References

{{DEFAULTSORT:Hambrecht, Bill American sports businesspeople 1935 births Living people United Football League (2009–2012) owners American University of Beirut trustees American investment bankers Las Vegas Locomotives Princeton University alumni