January 3: A Milestone in Apple’s Journey
milestone event in Apple’s history, marking its incorporation.” width=”80″ height=”80″ srcset=”https://www.cultofmac.com/wp-content/uploads/2017/01/JAN3.jpg 80w, https://www.cultofmac.com/wp-content/uploads/2017/01/JAN3-160×160.jpg 160w” sizes=”(max-width: 80px) 100vw, 80px”/> On January 3, 1977, Apple Computer Co. was formally established, boasting Steve Jobs and Steve Wozniak as co-founders. Notably absent from this milestone was Ron Wayne, the third founder who had initially invested in the enterprise but sold his shares for just $800.
The Visionary Behind Apple’s Growth
Mike Markkula emerged as a pivotal figure in providing the necessary investment and strategic guidance to transition Apple into a formal corporation.
The Genesis of Apple Computer
Apple originated on April Fool’s Day in 1976 with the intent to sell the Apple-1 computer, which debuted at a price of $666.66 that July. While today it might be considered one of the most valuable personal computers due to its rarity and historical significance, the initial response to the Apple-1 was underwhelming; limited production resulted in meager sales figures. Furthermore, it was neither innovative enough nor significantly better than competing products available at that time.
This early model only captured interest from a niche market comprised mainly of tech enthusiasts and would likely have faded into obscurity were it not for Apple’s eventual breakthroughs in later years.
A Turning Point: The Launch of Apple II
In stark contrast to its predecessor was the introduction of the Apple II—Apple’s first successful mass-market computer. The device featured an integrated keyboard and compatibility with BASIC programming language while introducing vibrant color graphics for enhanced user experience. Over time, additional peripherals like Disk II floppy drives and exceptional software offerings such as VisiCalc propelled its market presence—making it an essential tool for both gaming enthusiasts and professionals alike.
However, advancing production plans for this game-changing machine necessitated more capital than either Jobs or Wozniak had available at their disposal; this is where Markkula’s expertise became vital.
Markkula’s Impact on Apple’s Foundation
Having accrued millions through stock options from his roles at Fairchild Semiconductor and Intel before retiring at only age thirty-two, Markkula interfaced with marketing expert Regis McKenna and venture capitalist Don Valentine who introduced him to Jobs shortly thereafter.
By November of that same year (1976), he had committed his resources to assist Jobs’ vision by crafting a comprehensive business strategy targeting $500 million in sales within ten years—a monumental leap forward indeed! With an initial investment totaling $92,000 alongside securing substantial credit amounting to $250 thousand from Bank of America further cemented his role as an invaluable asset during these formative moments!
The Formation Era Begins
The formal incorporation occurred on January 3rd amid a series transformative maneuvers; subsequently buying out earlier partnership agreements worth approximately $5,308.96 initiated what would become known today simply as “Apple.” In February following their incorporation Michael Scott joined ranks serving initially as CEO—with compensation set around an annual salary equating roughly $26 thousand!
This groundwork laid during these vibrant months enabled them eventually launch their iconic product—the groundbreaking Apple II releasing later within ’77—leading directly towards phenomenal future achievements!
