On March 13, 1986, Microsoft offers the first shares to the public. Share prices rise from $26 to $29 before closing at $27.25.
Microsoft was founded in 1975 by Seattle natives and former Lakeside School classmates William H, "Bill" Gates III (b. 1955) and Paul Allen (b. 1953). First based in Albuquerque, New Mexico, they relocated to the Bellevue area in 1979 and later established a campus in Redmond. In 1985, prior to its initial public offering, Microsoft reported total annual sales of $140 million.