Created in 1984 by Michael Dell while enrolled at the University of Texas at Austin, it was initially called PCs Limited. Working on his own, he ran the company from his dormitory, and sold IBM compatible PCs built from standard parts. After getting an investment from his family, Dell dropped out of college to focus on the company full time. The first Dell-designed computer was the Turbo PC, with a price tag of $795. It used an Intel 8088 chip and ran at 8 Mhz. Originally advertised in magazines as custom assembled machines, PCs Limited became highly successful, grossing more than $73 million it’s first year.
In 1988, the company name was changed to Dell Computer Corp. and set up its first on-site service centers the following year. By late 88, Dell’s market share had soared to $80 million after an IPO, and Michael Dell became one of the great success stories of the computer industry. By 1992, Dell was on Fortune Magazine’s 500 world largest companies. After beginning to sell its computers on the Dell website, the company began expanding into other markets, including handheld devices, digital audio players, and printers. The company name was changed yet again in 2003 to Dell Inc. Today Dell is one of the most prominent PC manufacturers on the planet, and continues to be successful under Michael Dell’s direction.