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Quip Industries history
Quip Industries company history timeline
1981 Dril-Quip is founded in Texas by four partners.
A major step in the company's future was opening a European headquarters in Aberdeen, Scotland, along the North Sea, in 1983.
1983 The company forms a European division in Aberdeen, Scotland.
1986 Dril-Quip opens a sales and service office in the Netherlands.
The first part of the decade found Dril-Quip rapidly expanding, establishing a new location in Singapore in 1990 as its Asia and Pacific Rim headquarters.
Dril-Quip's three factories--the original on Hempstead Highway, a second Houston-area plant located on 218 acres off North Eldridge Road (construction began in 1991), and its European facility in Aberdeen, Scotland--were at capacity as the orders poured in.
1991 A second manufacturing facility near Houston begins construction.
1994 A new office is established in Esbjerg, Denmark.
Revenues for 1997 reached $146.8 million, with net income of $12.9 million.
1997 Dril-Quip reincorporates in Delaware and goes public.
The following year, 1998, revenues leapt to $177.6 million and net income reached $17.4 million.
Dril-Quip established a new sales and service office in Macaé, Brazil, in 2000, bringing the company's sales offices outside the United States to six.
By 2004 rising gas and oil prices, which in turn led to capital spending by oil producers, spurred the introduction and testing of several new Dril-Quip products for market.
Dril-Quip took advantage of its solid stock prices to raise equity in December 2005, selling 1.5 million shares at $52 each for $74 million in net income.
Stock prices, which had stagnated in the high teens and low 20s, began to rally in 2005 to over $56.30 late in the year.
2005 Three new products are introduced to great success.
2006 Dril-Quip celebrates its 25th anniversary.
When Facebook acquired FriendFeed in 2009 and introduced the Like button, it fundamentally reshaped Facebook as a social service.
Quip Founded (2012)Bret Taylor and Kevin Gibbs leave Facebook and Google to found Quip, and redefine productivity software.
Quip raises $15M in series A from Benchmark Capital, and launches in mid-2013.
By 2013, more than an exabyte of data—the equivalent of a billion gigabytes—was already stored in the cloud.
By the time Bret Taylor and Kevin Gibbs founded Quip in 2013, both men had already built successful businesses within two of the largest technology companies in the world.
April 2014 saw the release of the Quip API. The following month, Quip 2.0 was released.
Quip’s engineers had been working tirelessly behind the scenes to develop a spreadsheet product alongside the main Quip app, which launched officially in October 2014.
Q1 of 2014 also saw the introduction of a range of social features, beginning with the implementation of the Like button.
To combat Slack’s growing popularity, Quip introduced Chat Rooms in April 2015.
A few months later, in July 2015, Quip debuted its iOS and Windows desktop apps.
Series B (2015)Quip raises $30M Series B financing from Greylock, and expands its leadership team.
In March 2016, Quip introduced two important collaborative features, Show Edit History and Always Show Sidebar.
Alongside Quip’s new collaborative updates, March 2016 also saw the introduction of some new design elements: Horizontal Rules, and Pull and Block Quotes.
Salesforce + Quip (2016)Salesforce acquires Quip – connecting the world’s leading CRM to your favorite productivity suite.
By mid-2016, Quip’s focus was the same as every other productivity tool developer out there, dominate the enterprise.
After getting in on the April Fool’s Day festivities with a surprisingly convincing satirical blog post focusing on Quip’s imaginary “Print to 3D” feature, Quip introduced colored highlights in June 2017.
The company would spend much of 2017 improving the product further, adding new features and design elements.
Quip’s rapid expansion into overseas markets, strong revenue growth, and increasingly large user base put the company in an excellent position going into 2017.
Shortly after being acquired by Salesforce, Quip began 2017 by making an acquisition of its own when the company purchased software development studio Unity&Variety for an undisclosed sum.
The next major change to the product came in May 2018, when Quip removed all gender pronouns from the product.
The biggest change to Quip in September 2018 wasn’t visual, however—it was the launch of Slides.
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