Power Computing Corporation (often referred to as Power Computing) was the first company selected by Apple Inc to create Macintosh-compatible computers ("Mac clones"). Stephen “Steve” Kahng, a computer engineer best known for his design of the Leading Edge Model D, founded the company in November 1993. Power Computing started out with financial backing from Olivetti (US$5 million) and $4 million of Mr. Kahng’s money. The first Mac-compatible (clone) PC shipped in May 1995. Like Dell Computer, Power Computing followed a direct, build-to-order sales model. In one year, Power Computing shipped 100,000 units with revenues of $250 million in the first year. Power Computing was the first company to sell $1,000,000 of products on the internet. Power Computing released upgraded models until 1997 with revenues reaching $400 million a year. The Mac clone business was stopped after Steve Jobs returned as interim CEO of Apple in July 1997. In September, Apple bought Power Computing for $100 million in Apple stock and terminated the Mac cloning business.
