Following trials in Jobs’ childhood home, Wozniak and Jobs launched their first Apple I machines at the Homebrew Computer Club in 1976. Their first customer, The Byte Shop placed an order for 50 units, each priced at $666.66. Also that year, Apple’s first logo is designed. Alongside Jobs and Wozniack, Ronald Wayne was the third member behind the Apple partnership. However, a mere twelve days into the venture, fearing the financial risk his 10% stake posed to his assets, Wayne relinquished his share for $800.
On January 3, 1977, Apple Computer Company is incorporated and becomes Apple Computer Inc. Later that year, Apple’s first commercial success is launched, the Apple II. As multimillionaire Mike Markkula steps in with substantial investment, he assists Jobs and Wozniack in securing credit and further capital. Furthermore, Michael Scott is selected as Apple’s first CEO. The following year, 1978, Apple begins development of the unsuccessful Apple III. Jef Raskin, human interface expert, joins the Apple team. Under the supervision of Jef Raskin, the Macintosh project commences.
As a fan of McIntosh apples, Raskin’s name for the machine pays homage to his favourite fruit. In December 1980, Apple makes its debut initial public offering (IPO). Over four million shares are sold for $22 each, making Apple’s the most successful IPO since Ford in 1956. Apple’s competitor computer manufacturer IBM introduces an entry-level personal computer to the market priced at $1,565. As the Apple Lisa, a high-end and expensive machine, misses its release date, IBM overtake Apple’s market share.
A year later, in 1982, Steve Jobs is removed from the History of Apple Lisa project. No sooner does Jobs takeover the Macintosh project, than Raskin resigns in protest. Following delays, setbacks and acrimony within its ranks, Apple releases the Apple Lisa in January 1983. However, the first item in the history of apple, priced at around $10,000, beset with performance issues, the Lisa performs poorly in the market.