Concentric Network started life in Florida in 1991 as Engineered Video Concepts. By 1997 it ran a high-speed internet network from Cupertino, California, built on an ATM backbone. It sold companies virtual private networks, dedicated lines and web hosting, so they could link offices, suppliers and customers with ordinary browsers. On the day of its IPO, Williams Communications and Bay Networks bought about $18 million of its stock in a private deal.

Four Names in Five Years

The company became Concentric Research Corporation in 1992 and began running its network in 1994. It took the name Concentric Network Corporation in 1995. Late in 1996 it finished building its current network design. The bet was that businesses would trust the internet for private traffic if one company guaranteed fast, steady service. Concentric also worked with TMI Telemedia, a Telecom Italia unit, on a worldwide network.

Folded Into XO

Concentric sold shares at $12 in August 1997 and listed on Nasdaq as CNCX. The internet boom lifted demand for hosting and business connections over the next three years. In June 2000 Concentric merged with NEXTLINK Communications, and the combined company became XO Communications. XO went on to sell fiber-based business services for years. Verizon bought XO's fiber business for $1.8 billion in 2017.

Cover: Circular Design with Saturn, Jonas Silber, (Master J.S.). Art Institute of Chicago, public domain. Chosen for concentric circles (Concentric Network).