What Happened on October 6th
october 6, 1983
Lotus Development Goes Public
Lotus Development Corp. went public after recording revenues of $12.8 million for the previous 12 months. The company, founded by Mitch Kapor and Jonathan Sachs in 1982, found its success with Kapor’s spreadsheet program, Lotus 1-2-3. Lotus 1-2-3 bypassed the operating system of the IBM PC, making it much faster than its competitors.
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In addition, its combination of spreadsheet capabilities with graphics and data retrieval made the program popular. IBM acquired Lotus in 1995.