Founder: Michael Dell
Before his venture into IT, Michael Dell was a pre-med student at the University of Texas. That all changed in 1984, when he started upgrading computers in the labs of the university he attended. He later applied for a vendor license so he could win bids on contracts for the State of Texas. That same year, Dell borrowed $1,000 from his parents to start a computer accessories business. The reason? He wanted to focus on direct sales to customers rather than going through the retail middleman – a notion that Dell still follows today.
By the end of 1984, the company had earned $6m. After the launch of its first computer made entirely from scratch, the company name was changed from PC’s Unlimited to Dell Computer Corporation. Instead of having customers bring in broken computers, Dell would pay house calls because they still didn’t have any stores. By the age of 27, Dell became the youngest CEO to have his company listed in the Fortune 500 companies. It didn’t take long before the company was raking in millions in sales every day.
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