Pixar acquisition from "summary" of Who Was Steve Jobs? by Pam Pollack,Meg Belviso,Who HQ
In 1986, Steve Jobs bought a small computer graphics division from Lucasfilm for $5 million. He named this new company Pixar and set out to make it a successful animation studio. Jobs poured millions of dollars into Pixar, but for many years, it struggled to turn a profit. Despite this, Jobs saw the potential in the company and believed in its ability to produce groundbreaking animated films.
In 1995, Pixar released its first feature film, "Toy Story," which was a huge success. The film was a hit with both critics and audiences, and it solidified Pixar's reputation as a leader in the animation industry. With the success of "Toy Story," Pixar began to thrive financially, and its films continued to be well-received by audiences around the world.
As Pixar's success grew, so did the interest from other companies. In 2006, Disney acquired Pixar for $7.4 billion, making Steve Jobs Disney's largest shareholder. This acquisition was a significant moment in the history of both companies, as it brought together two powerhouses in the entertainment industry. The deal also made Steve Jobs a billionaire, further solidifying his legacy as a visionary business leader.
The Pixar acquisition was a turning point for Steve Jobs, as it showcased his ability to identify and nurture innovative talent. It also highlighted his knack for making bold business decisions that paid off in the long run. The success of Pixar under Jobs' leadership was a testament to his vision and determination to create something truly special in the world of animation.
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