William Millard
Encyclopedia
William "Bill" Millard was the founder of IMS Associates, makers of the IMSAI series of computers and the electronics retailer ComputerLand
.
He is credited as the "father" of modern computer retailing. He is also been called one of the world's most elusive tax exiles.
William H. Millard worked for IBM
and, later, as the head of data processing
for the city and county of San Francisco. In 1969, together with his wife, Millard started a software publisher company called Systems Dynamics, which went bankrupt in 1972.
In 1973, Millard founded IMS Associates, which is most famous for IMSAI 8080
microcomputer
first shipped in late 1975. By 1977, IMSAI's product line included printers, terminals, floppy diskettes and software. To finance rapidly growing operations, IMSAI pledged 20% of its stock as convertible note in exchange for $250,000 from investment firm Marriner & Co.
In 1976, in partnership with John Martin-Musumeci, IMS launched a successful computer reseller franchise
ComputerLand
. In 1982, ComputerLand's sales reached over $400 million and by 1984 the venture reached over $1 billion in revenue.
Legal troubles from the failure of IMS, centered largely on a convertible note
from the Marriner partnership that was later sold to a group of investors, led to a lawsuit in which Millard lost a substantial portion of his stake in ComputerLand. In the late 1980's Millard relinquished control of ComputerLand. In 1987, he sold ComputerLand to E.M. Warburg, Pincus & Co. for about $200 million.
He and his family moved to Saipan
where he removed himself from the public view.
In September 2011, after 20 years, he was found living in the Cayman Islands.
ComputerLand
ComputerLand was a widespread chain of retail computer stores during the early years of the personal computer "revolution", and was one of the outlets chosen to introduce the IBM PC in 1981. The first ComputerLand opened in 1976, and the chain eventually included about 800 stores by 1985...
.
He is credited as the "father" of modern computer retailing. He is also been called one of the world's most elusive tax exiles.
William H. Millard worked for IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
and, later, as the head of data processing
Data processing
Computer data processing is any process that a computer program does to enter data and summarise, analyse or otherwise convert data into usable information. The process may be automated and run on a computer. It involves recording, analysing, sorting, summarising, calculating, disseminating and...
for the city and county of San Francisco. In 1969, together with his wife, Millard started a software publisher company called Systems Dynamics, which went bankrupt in 1972.
In 1973, Millard founded IMS Associates, which is most famous for IMSAI 8080
IMSAI 8080
The IMSAI 8080 was an early microcomputer released in late 1975, based on the Intel 8080 and later 8085 and S-100 bus. It was a clone of its main competitor, the earlier MITS Altair 8800. The IMSAI is largely regarded as the first "clone" computer. The IMSAI machine ran a highly modified version of...
microcomputer
Microcomputer
A microcomputer is a computer with a microprocessor as its central processing unit. They are physically small compared to mainframe and minicomputers...
first shipped in late 1975. By 1977, IMSAI's product line included printers, terminals, floppy diskettes and software. To finance rapidly growing operations, IMSAI pledged 20% of its stock as convertible note in exchange for $250,000 from investment firm Marriner & Co.
In 1976, in partnership with John Martin-Musumeci, IMS launched a successful computer reseller franchise
Franchising
Franchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....
ComputerLand
ComputerLand
ComputerLand was a widespread chain of retail computer stores during the early years of the personal computer "revolution", and was one of the outlets chosen to introduce the IBM PC in 1981. The first ComputerLand opened in 1976, and the chain eventually included about 800 stores by 1985...
. In 1982, ComputerLand's sales reached over $400 million and by 1984 the venture reached over $1 billion in revenue.
Legal troubles from the failure of IMS, centered largely on a convertible note
Convertible bond
In finance, a convertible note is a type of bond that the holder can convert into shares of common stock in the issuing company or cash of equal value, at an agreed-upon price. It is a hybrid security with debt- and equity-like features...
from the Marriner partnership that was later sold to a group of investors, led to a lawsuit in which Millard lost a substantial portion of his stake in ComputerLand. In the late 1980's Millard relinquished control of ComputerLand. In 1987, he sold ComputerLand to E.M. Warburg, Pincus & Co. for about $200 million.
He and his family moved to Saipan
Saipan
Saipan is the largest island of the United States Commonwealth of the Northern Mariana Islands , a chain of 15 tropical islands belonging to the Marianas archipelago in the western Pacific Ocean with a total area of . The 2000 census population was 62,392...
where he removed himself from the public view.
In September 2011, after 20 years, he was found living in the Cayman Islands.