The company was seeking a valuation of $5 billion and hoped to raise $100 million, but retracted the IPO two years later, in March 2018, citing 'market conditions'. In July 2016, the company filed with the Security and Exchange Commission for an initial public offering with plans to list on the New York Stock Exchange under the 'YETI' symbol. In June 2012, a two-thirds stake of the company was purchased by private equity firm Cortec Group for $67 million. The avid outdoorsmen became frustrated with the quality of the coolers available and founded YETI in response. Roy, an angler and hunter, began his career making custom boats that were designed for fishing in shallow depth areas on the Texas Gulf Coast. In 2006, Ryan started Waterloo Rods and sold the company nine years later. Ryan graduated from Texas A&M University in 1996 and Roy graduated from Texas Tech University in 2000. Their father Roger Seiders was an entrepreneur that designed a fishing rod epoxy. The brothers grew up in Driftwood, Texas, and spent a large portion of their childhood outdoors.
YETI was founded by Roy and Ryan Seiders in 2006. YETI is an American manufacturer specializing in outdoor products such as ice chests, vacuum-insulated stainless-steel drinkware, soft coolers, and related accessories.
