From Go to IPO? The Hyper-growth Strategy of the New European Telecoms Operator Versatel

In the beginning of 1999, it became clear to Gary Mesch, co-founder of Versatel, that an initial public offering (IPO or 'going public') should be considered a serious option to further finance the rapid growth of his company. After securing hundreds of millions of euros to construct Versatel's own fiber-optic telecommunications network and the acquisition of customers, Versatel still required significant capital to finance its growth and repay interest obligations. In just four years, the company had grown from 15 employees in 1995 to more than 300 in 1998. Many questions crossed Gary's mind, but one was most pressing: Would going public even be possible?