“December 12, 1980: Apple goes public as it floats 4.6 million shares on the stock market for the first time,” Luke Dormehl reports for Cult of Mac.
“In the biggest tech IPO of its day, more than 40 out of 1,000 Apple employees become instant millionaires,” Dormehl reports. “As Apple’s biggest shareholder, 25-year-old Steve Jobs ends the day with a net worth of $217 million.”
“Like the IPO of a modern tech giant like Twitter, Apple’s public offering was hotly-anticipated in the press. ‘Not since Eve has an Apple posed such temptation,’ read an article in The Wall Street Journal,” Dormehl reports. “Apple was a big hit. Its IPO was the biggest since the Ford Motor Company had made its own public offering in 1956, one year after Jobs’ birth. Underwritten by Morgan Stanley and the firm Hambrecht & Quist, Apple stock was filed to sell at $14 per share, but opened at $22 and sold out within minutes. That day alone it rose 32 percent a share, which gave it a closing value of of $29 — and a total valuation of $1.778 billion.”
Much more in the full article here.
MacDailyNews Take: That’s good. One less thing…
A good day, but I like their founding date more.
No fooling!
“I saw a lot of other people at Apple, and especially after we went public in 1980, how it changed them. A lot of people thought they had to start being rich. A few people went out and bought Rolls Royces, and various houses, each with a house manager, and then someone to manage the house managers, and their wives got plastic surgery. I saw these people who were really nice, simple people turn into these bizarro people. And I made a promise to myself. I said, “I’m not gonna let this money ruin my life.”
“Steve Jobs: The Unauthorized Autobiography.”
Check out this book on the iBooks Store: https://itun.es/nl/qB1h3.l
Under Tim Cook Apple is now a public toilet.