At 16, Steve Jobs met his Apple co-founders, Steve Wozniak and Bill Fernandez ๐ฒ
The trio sold โblue boxes,โ phones that let users communicate long distances at no extra cost.
Five years later, the two Steves had dropped out of college and regularly attended microcomputer showcases ๐ป
Wozniak soon learned how to build a computer, and Jobs wanted to sell it!
They quit their jobs, and the computer became Apple I ๐ค
Jobs suggested the name because it sounded approachable, fun and would get them the first slot in the phonebook.
The two Steves sold 50 computers to a local company called Byte Shop ๐ค
The sale was a success, and soon 200 Apple Iโs sold for $666.66 each!
Two years later, in 1977, Apple released its second computer, Apple II, and a music player, Disk II ๐คฏ
6 million customers purchased the Apple II computers.
Following the release of Apple III, Apple went public in 1980 at $22 per share ๐ธ
Apple had the largest IPO since Fordโs in 1956 and reached a market cap of $1.77B on the first day of trading!
In 1985, Apple suffered from heavy competition from IBM and some internal disagreements ๐ก
The release of the Macintosh in 1984 angered customers and investors.
The stress worsened the power struggle between John Scully, the newly appointed CEO at the time, and Steve Jobs
Soon, the two founders left Apple ๐ช