Recalling Apple's VC-Funded Past
September 14, 2012- Share:
It's been a big week in the VC universe: Investors poured millions into companies that are disrupting the car repair industry, developing weed-killing robots and making coconut water, to name a few. It's also been a huge week for Apple with the much-anticipated iPhone 5 announcements, inspiring a look at the formerly VC-funded company's historical data. Back in 1977, right after Steve Wozniak co-founded Apple with Steve Jobs in a Silicon Valley garage, the company raised $250,000 from Mike Markkula, an angel investor and Apple's second CEO. That was followed by three rounds of funding from well-known VCs including Venrock, Sequoia Capital, Morgenthaler, Matrix Partners and Brentwood Venture Capital. Apple's late stage financing was minimal compared to the massive tech investments seen now, but a couple million wasn't considered too shabby in 1980. Shortly thereafter came Apple's IPO, on Dec. 12, 1980. The company offered 4.6 million shares priced at $14, which opened at $22 apiece on the NASDAQ and soared up to $29 that first day of trading. And from there, the rest was history—Apple shares closed yesterday at $682.98.
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