Mike Markkula
Encyclopedia
Armas Clifford "Mike" Markkula, Jr. (born February 11, 1942) is an American entrepreneur who was an angel investor
and second CEO of Apple Computer, Inc., providing early critical funding and managerial support. He was introduced to Steve Jobs
and Steve Wozniak
when they were looking for funding to manufacture the Apple II
personal computer they had developed, after having sold some units of the first version of this computer, the Apple I
. With this guidance and funding, Apple ceased to be a partnership and was incorporated as a company.
and Master of Science
degrees in electrical engineering
from the University of Southern California
. He made millions on stock options he acquired as a marketing manager for Fairchild Semiconductor
and Intel, and retired at 32.
and venture capitalist Don Valentine
. Valentine—who after meeting the young, unkempt Jobs asked McKenna, "Why did you send me this renegade from the human race?"—was not interested in funding Apple, but mentioned Jobs' new company to Markkula. Jobs visited him and convinced Markkula of the market for the Apple II and personal computers in general. In 1977, Markkula brought his business expertise along with US$
250,000 ($80,000 as an equity investment in the company and $170,000 as a loan) and became a one-third owner of Apple and employee number 3.
Wozniak, who helped create the first two Apple computers, credits Markkula for the success of Apple more than himself. He helped the new company obtain credit
and venture capital, brought in Michael Scott
as the first president and CEO, then took the job himself from 1981 to 1983 despite having promised his wife that he would only stay at Apple for four years, and that he would retire by 1984 Markkula served as chairman from 1985 until 1997, when a new board was formed after Jobs returned to the company. As chairman he approved Jef Raskin
's 1979 plan to start designing what became the Macintosh
, then prevented Jobs from killing the project in favor of his own Lisa
. In 1985 Markkula took John Sculley
's side in a dispute with Jobs, causing the latter to leave the company, and in 1993 he helped to force Sculley out.
In addition to providing "adult supervision" to the younger Jobs and Wozniak, as a trained engineer Markkula also possessed technical skills. He wrote several early Apple II programs, served as a beta tester for Apple hardware and software, and Wozniak designed the Disk II
floppy disk drive system after Markkula found that a checkbook-balancing program he had written loaded too slowly from a data cassette.
, ACM Aviation, San Jose Jet Center and Rana Creek Habitat Restoration and to endow the Markkula Center for Applied Ethics
at Santa Clara University
, where he now chairs the Board.
Markkula is an investor in Crowd Technologies, a startup developing a web application called Piqqem that applies the wisdom of crowds to stock market predictions. He is also an investor in Scotland based RunRev.
Markkula and his work with Apple was recently featured in the documentary film Something Ventured which premiered in 2011.
Angel investor
An angel investor or angel is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity...
and second CEO of Apple Computer, Inc., providing early critical funding and managerial support. He was introduced to Steve Jobs
Steve Jobs
Steven Paul Jobs was an American businessman and inventor widely recognized as a charismatic pioneer of the personal computer revolution. He was co-founder, chairman, and chief executive officer of Apple Inc...
and Steve Wozniak
Steve Wozniak
Stephen Gary "Woz" Wozniak is an American computer engineer and programmer who founded Apple Computer, Co. with Steve Jobs and Ronald Wayne...
when they were looking for funding to manufacture the Apple II
Apple II
The Apple II is an 8-bit home computer, one of the first highly successful mass-produced microcomputer products, designed primarily by Steve Wozniak, manufactured by Apple Computer and introduced in 1977...
personal computer they had developed, after having sold some units of the first version of this computer, the Apple I
Apple I
The original Apple Computer, also known retroactively as the Apple I, or Apple-1, is a personal computer released by the Apple Computer Company in 1976. They were designed and hand-built by Steve Wozniak. Wozniak's friend Steve Jobs had the idea of selling the computer...
. With this guidance and funding, Apple ceased to be a partnership and was incorporated as a company.
Before Apple
Markkula received Bachelor of ScienceBachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
and Master of Science
Master of Science
A Master of Science is a postgraduate academic master's degree awarded by universities in many countries. The degree is typically studied for in the sciences including the social sciences.-Brazil, Argentina and Uruguay:...
degrees in electrical engineering
Electrical engineering
Electrical engineering is a field of engineering that generally deals with the study and application of electricity, electronics and electromagnetism. The field first became an identifiable occupation in the late nineteenth century after commercialization of the electric telegraph and electrical...
from the University of Southern California
University of Southern California
The University of Southern California is a private, not-for-profit, nonsectarian, research university located in Los Angeles, California, United States. USC was founded in 1880, making it California's oldest private research university...
. He made millions on stock options he acquired as a marketing manager for Fairchild Semiconductor
Fairchild Semiconductor
Fairchild Semiconductor International, Inc. is an American semiconductor company based in San Jose, California. Founded in 1957, it was a pioneer in transistor and integrated circuit manufacturing...
and Intel, and retired at 32.
Involvement in Apple
He was lured out of retirement by Steve Jobs, who was referred to him by Regis McKennaRegis McKenna
Regis McKenna is best known for helping start several Silicon Valley firms during the 1970s and 1980s with his own marketing firm, Regis McKenna, Inc., founded in 1970. McKenna retired from consulting in 2000 and is concentrating his efforts on high tech entrepreneurial seed-ventures...
and venture capitalist Don Valentine
Don Valentine
Donald T. "Don" Valentine is an influential venture capitalist who concentrates mainly on technology companies in the United States. He has been called the "grandfather of Silicon Valley venture capital"...
. Valentine—who after meeting the young, unkempt Jobs asked McKenna, "Why did you send me this renegade from the human race?"—was not interested in funding Apple, but mentioned Jobs' new company to Markkula. Jobs visited him and convinced Markkula of the market for the Apple II and personal computers in general. In 1977, Markkula brought his business expertise along with US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
250,000 ($80,000 as an equity investment in the company and $170,000 as a loan) and became a one-third owner of Apple and employee number 3.
Wozniak, who helped create the first two Apple computers, credits Markkula for the success of Apple more than himself. He helped the new company obtain credit
Line of credit
A line of credit is any credit source extended to a government, business or individual by a bank or other financial institution. A line of credit may take several forms, such as overdraft protection, demand loan, special purpose, export packing credit, term loan, discounting, purchase of...
and venture capital, brought in Michael Scott
Michael Scott (Apple Computer)
Michael "Scotty" Scott is an American entrepreneur, who was the first CEO of Apple from February 1977 to March 1981. Formerly director of manufacturing at National Semiconductor, Scott was persuaded by Mike Markkula to take the CEO position at Apple, as the co-founders — Steve Jobs and Steve...
as the first president and CEO, then took the job himself from 1981 to 1983 despite having promised his wife that he would only stay at Apple for four years, and that he would retire by 1984 Markkula served as chairman from 1985 until 1997, when a new board was formed after Jobs returned to the company. As chairman he approved Jef Raskin
Jef Raskin
Jef Raskin was an American human-computer interface expert best known for starting the Macintosh project for Apple in the late 1970s.-Early years and education:...
's 1979 plan to start designing what became the Macintosh
Macintosh
The Macintosh , or Mac, is a series of several lines of personal computers designed, developed, and marketed by Apple Inc. The first Macintosh was introduced by Apple's then-chairman Steve Jobs on January 24, 1984; it was the first commercially successful personal computer to feature a mouse and a...
, then prevented Jobs from killing the project in favor of his own Lisa
Apple Lisa
The Apple Lisa—also known as the Lisa—is a :personal computer designed by Apple Computer, Inc. during the early 1980s....
. In 1985 Markkula took John Sculley
John Sculley
John Sculley is an American businessman. Sculley was vice-president and president of PepsiCo , until he became CEO of Apple on April 8, 1983, a position he held until leaving in 1993...
's side in a dispute with Jobs, causing the latter to leave the company, and in 1993 he helped to force Sculley out.
In addition to providing "adult supervision" to the younger Jobs and Wozniak, as a trained engineer Markkula also possessed technical skills. He wrote several early Apple II programs, served as a beta tester for Apple hardware and software, and Wozniak designed the Disk II
Disk II
The Disk II Floppy Disk Subsystem was a 5¼-inch floppy disk drive designed by Steve Wozniak and manufactured by Apple Computer. It was first introduced in 1978 at a retail price of US$495 for pre-order; it was later sold for $595 including the controller card and cable...
floppy disk drive system after Markkula found that a checkbook-balancing program he had written loaded too slowly from a data cassette.
After Apple
After his stint at Apple Computer, he continued on to found Echelon CorporationEchelon Corporation
Echelon Corporation is an American company which designs control networks to connect machines and other electronic devices, for the purposes of sensing, monitoring and control....
, ACM Aviation, San Jose Jet Center and Rana Creek Habitat Restoration and to endow the Markkula Center for Applied Ethics
Markkula Center for Applied Ethics
The Markkula Center for Applied Ethics at Santa Clara University promotes research and dialogue in five major focus areas: Bioethics, Business Ethics, Campus Ethics, Character Education, and Government Ethics. The Center offers public talks, workshops, and training, as well as sponsoring...
at Santa Clara University
Santa Clara University
Santa Clara University is a private, not-for-profit, Jesuit-affiliated university located in Santa Clara, California, United States. Chartered by the state of California and accredited by the Western Association of Schools and Colleges, it operates in collaboration with the Society of Jesus , whose...
, where he now chairs the Board.
Markkula is an investor in Crowd Technologies, a startup developing a web application called Piqqem that applies the wisdom of crowds to stock market predictions. He is also an investor in Scotland based RunRev.
Markkula and his work with Apple was recently featured in the documentary film Something Ventured which premiered in 2011.