2007: New York private-equity firm KKR takes First Data back into the private sector in a leveraged buyout worth about $30 billion.
Advertisement
First Data Corporation has filed paperwork with the Securities & Exchange Commission to conduct its initial public offering.
It processed 28 percent of global e-commerce previous year.
In 2013, KKR recruited Frank Bisignano, 55, from JPMorgan Chase & Co.as CEO and raised an additional $3.5 billion in equity, with the private equity firm kicking in $1.2 billion.
The amount of money a company says it plans to raise in its first IPO filing is usually a placeholder used to calculate registration fees. First Data has not selected a proposed ticker symbol or an exchange. No pricing terms were disclosed.
2009: First Data headquarters returns to Atlanta. KKR and its affiliates will continue to control the company through a newly issued “Class B” shares, according to the filing. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion, and transfer restrictions applicable to the Class B common stock: class A shares gets one vote and Class B shares will get ten votes (and will be convertible at any time into one share of Class A common stock). The company also helps small businesses detect fraud, and provides data analytics and other services to merchants. In our largest market, the United States, we acquired $1.7 trillion of payment volume, accounting for almost 10% of U.S. GDP past year.
On an annual basis, the company ended 2014 with a loss of $458 million, improved from its loss of $869 million a year earlier.
Advertisement
1980: First Data grows to 2,000 employees and $50 million in revenue and is bought by American Express.
