The Pixar Phenomenon
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with each check from Jobs, Pixar employees had to cede what little equity
they had in the company. According to Smith, “Jobs would have sold us
in a heartbeat if anyone had come around with a check for $50 million.”
In late 1994, after Microsoft bought Smith’s Altamira Software, Jobs tried
selling Pixar to the software giant. Microsoft balked at an acquisition, but at
Smith’s recommendation it paid $6.5 million for a license to the key patent
covering RenderMan. Microsoft’s money allowed Pixar to turn in its rst
protable quarter, but by September 30, 1995, Pixar had accumulated a net
decit of $46.9 million. Its fortunes were about to improve signicantly.
Pixar’s proprietary 3D animation technology made possible ...