In 1950, Ewing Kauffman launched his pharmaceutical company, Marion Laboratories Inc., in the basement of his modest home in Kansas City. During his first year in business, he had sales of $36,000 and a net profit of $1,000. By the time he sold his company to Merrell Dow in 1989, it had become a global diversified healthcare giant with nearly $1 billion in sales.
In 1976, Steve Jobs and Steve Wozniak launched Apple. The first world headquarters for their world-changing venture was Jobs’ family garage. At the end of its fiscal third quarter this year, Apple reported quarterly revenue of $35.0 billion and quarterly net profits of $8.8 billion.
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