8chan/8kun QResearch Posts (1)
#6857320 at 2019-06-27 20:45:34 (UTC+1)
Q Research General #8770: Happy National Sunglass Day! Edition
Adobe Co-Founder sold $4m in shares-June 26
Charles M. Geschke
Career Details
Geschke began his career as a scientist and researcher in the Computer Sciences Laboratory of Xerox's Palo Alto Research Center. In 1980 he helped establish and became manager of Xerox's Imaging Sciences Laboratory at the same location. His duties centered on overseeing and conducting research activities in the areas of computer science, graphics, image processing, and optics. In 1982 he and John Warnock, who conducted interactive graphics research for Xerox, became frustrated by the difficulty of moving their innovations and research beyond the laboratory and into production. The two decided to venture out on their own; they quit Xerox and created a new company, Adobe Systems, Inc., named after a creek that runs past their homes in Los Altos, California.
By 1984, just two years after forming their company, Geschke and Warnock reported Adobe revenues of $1.7 million. The following year they garnered the attention of Apple Computer, Inc., which purchased a 19 percent stake in Adobe and began packaging PostScript with its LaserWriter printer, helping Apple's MacIntosh storm the market as the leading computer for graphic design. In 1986 Adobe partnered with Texas Instruments, Inc., to incorporate PostScript applications into two of its laser printers, which were the first to offer PostScript capabilities to IBM-compatible personal computers.
As a result of the quick success, Adobe expanded rapidly; staff numbers doubled from 27 to 54 between 1984 and 1985 (and would swell to 3,000 by 2001). By the end of 1986, PostScript had become an invaluable tool for simplifying desktop publishing and reducing costs from the traditional methods of typesetting. Not only did advertising agencies flock to PostScript, but also businesses, corporations, and even the federal government began creating in-house materials that would have been previously farmed out at an increased cost to a printing service.
1972: Hired by Xerox Palo Alto Research Center.
1980: Became manager of Xerox's Imaging Sciences Laboratory.
1982: Quit Xerox to co-found Adobe Systems, Inc. with John Warnock; became co-chairman and president.
1983: Introduced Adobe PostScript.
1986: Adobe went public, completing an initial stock offering.
1987: Introduced Adobe Illustrator and Adobe Type Library.
1992: Kidnapped and held for ransom for five days.
1993: Introduced Adobe Acrobat.
1994: Acquired Aldus, owner of PhotoShop and PageMaker.
1999: Introduced GoLive to compete with Quark Xpress.
2000: Retired as president; retained co-chairmanship.
2001: Revenues for fiscal year exceeded $1.2 billion.
After the initial introduction of PostScript technology, there was a mad rush to develop complementary applications and uses. Within the first few years, over 15,000 applications were developed. Adobe provided the additional innovation of "Type I fonts" that further increased the range of PostScript uses: Type I could supply fonts in digital form at any resolution. This led to the creation of some 15,000 typefaces. PostScript was also further developed so that it could be used with mainframes, making it accessible to multi-computer networks. Independent software developers used PostScript to create programs that expanded and simplified a wide variety of graphic design applications for all hardware designs and operating systems.
For the first five years, Geschke and Warnock focused on selling their product to original equipment manufacturers (OEMs), a strategy that proved very successful. With its one blockbuster program, Adobe posted a profit of $3.6 million on $16 million in sales in 1986. The same year, Geschke and Warnock took their company public and began selling stock. Despite its rapid success, Adobe was heavily dependent on Apple for its profits. In 1986, dealings with Apple accounted for 80 percent of Adobe's business. Although Geschke and Warnock began selling their product to IBM, the bulk of their business lay with Apple. Retail sales accounted for a small portion of Adobe's income. However, in 1987, Adobe moved into the retail market with the introduction of Adobe Illustrator, a program able to produce high-quality line drawings. Illustrator was a big hit with graphic designers and technical illustrators.
rest at link
https://www.encyclopedia.com/education/economics-magazines/Geschke-Charles-m
https://www.secform4.com/insider-trading/796343.htm