Back in 12th December 1980, Apple launched its first IPO by Steve Jobs. Today, the company is worth more than $350 billion. Clearly, Steve Jobs and Steve Wozniak left us a legacy!
Steve Jobs launched Apple‘s first Initial Public Offering in the year 1980 despite all odds. But the company lagged behind the famous Tandy Corp. in the personal computers division. Steve launched the IPO despite the warnings given my Massachusetts regulators about this risky act by the company.
Apple initially sold about $4.6 million worth shares at $22 for the public. And when the IPO was announced, many market researchers were saying that the IPO would be premium and will not see a sudden and major growth in the shares. And what’s surprising when compared to today is that Apple made less than $100 million from the IPO, initially. But then, Apple made more capital than any other IPO since Ford Motor Company made in 1956.
And after tasting huge success, Apple held its first shareholders meeting in January 1981 at the Flint Center. Steve Jobs was prepared with a long speech for the day. But he was interrupted with some votings many times. And Steve’s spontainity came into picture. He then delivered a long, and excellent talk about betrayal and other topics.
The company now sells a stock for about ~$360 and makes huge amoung of profits from it. This clearly is a success for a company that started from Steve’s Garage and is now the world’s most valuable company. All credits to Steve Jobs, Steve Wozniak and many others like Mark who made this company a success despite all the difficulties they faced both inside the company and also others.
Steve Jobs was recently praised at the Computer History Museum showcasing his wonderful works from the days of his garage to the company that’s standing still and tall today. You can download the IPO documents here from the Computer History Museum.
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