What Happened on October 6th

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. In addition, its combination of spreadsheet capabilities with graphics and data retrieval made the program popular. IBM acquired Lotus in 1995.