William R. Hambrecht (born 1935) is an American

investment banker Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with ...

and chairman of

WR Hambrecht + Co WR Hambrecht + Co. is a full-service investment bank with headquarters in San Francisco and offices in New York, Boston, Philadelphia, and Tokyo. It was founded in 1998 by Bill Hambrecht. It specializes in using its unique auction process called ...

which he founded in 1998. He helped persuade

Google Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, ar ...

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 investme ...

(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 payi ...

" 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 asking price in the case of selling, and lowers it until some participant acc ...

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,

Ravenswood Winery Ravenswood may refer to: Film and literature * Ravenswood, the name of a Swedish forest in ''Beowulf'', the setting of a battle between Geats and Swedes * ''Ravenswood'' (film), a 2006 Australian thriller, starring Stephen Moyer, Travis Fimmel and ...

, Andover.net and Salon.com. 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 technology company headquartered in Cupertino, California, United States. Apple is the largest technology company by revenue (totaling in 2021) and, as of June 2022, is the world's biggest company ...

Genentech Genentech, Inc., is an American biotechnology corporation headquartered in South San Francisco, California. It became an independent subsidiary of Roche in 2009. Genentech Research and Early Development operates as an independent center within ...

and

Adobe Systems Adobe Inc. ( ), originally called Adobe Systems Incorporated, is an American multinational computer software company incorporated in Delaware and headquartered in San Jose, California. It has historically specialized in software for the cre ...

public in the 1980s with his earlier

San Francisco San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17t ...

-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 on ...

, MP3.com, and Amazon.com. The firm was bought by Chase Manhattan in 1999. In 1997, he sponsored the foundation of BOOM Securities (H.K.) Limited. Hambrect is a 1957 graduate of

Princeton University Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the ...

, 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 has served as Speaker of the United States House of Representatives since 2019 and previously from 2007 to 2011. She has represented in the United States House of ...

, 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) ( ar, الجامعة الأميركية في بيروت) is a private, non-sectarian, and independent university chartered in New York with its campus in Beirut, Lebanon. AUB is governed by a private, aut ...

Lebanon Lebanon ( , ar, لُبْنَان, translit=lubnān, ), officially the Republic of Lebanon () or the Lebanese Republic, is a country in Western Asia. It is located between Syria to the north and east and Israel to the south, while Cyprus lie ...

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

, 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 Hambrect 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 central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

Tim Armstrong, 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, Nevada that played in the United Football League. The team played their home games at Sam Boyd Stadium, home field for the Unive ...

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 was an American football game held annually to determine the champion of the United Football League. The game was played annually from the UFL's first season in 2009 until the 2011 season, and involved the first and seco ...

, 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