Microsoft's 1986 IPO: The Birth of a Tech Giant and the Seeds of a Bubble
On March 13, 1986, Microsoft's successful IPO raised $61 million, valuing the company at $777 million, marking the birth of a tech giant. However, this IPO also ignited the hunt for 'the next Microsoft,' directly contributing to the dot-com bubble of the late 1990s. Microsoft's delayed IPO, 11 years after its founding, stemmed from Bill Gates' desire to maintain control. Despite strong profitability, the need to attract talent through stock options ultimately pushed them public. Microsoft's success rested on its operating system's near-monopoly in the booming PC market and its diversified software portfolio. However, this success also led to antitrust concerns and subsequent legal battles. Microsoft's IPO not only created a tech empire but also sowed the seeds of the dot-com bubble, leaving a significant mark on tech history.