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 (1953-2018). 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.