This Day In Market History: Bill Gates Unveils Microsoft Excel

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened?

On this day 34 years ago, Microsoft Corporation MSFT launched Excel spreadsheet software.

Where The Market Was

The Dow finished the day at 1,242.27. The S&P 500 traded at 179.01. Today, the Dow is trading at 26,430 and the S&P 500 is trading at 2,923.

What Else Was Going On In The World?

In 1985, The Coca-Cola Co KO introduced New Coke, and the U.S. removed iconic Route 66 from its highway system. A gallon of gasoline cost $1.09.

It’s Business Time

Microsoft founder Bill Gates unveiled the original version of Excel at a presentation in New York. The first version of the software was only compatible with Macintosh computers, and received a glowing endorsement from Apple, Inc. AAPL co-founder Steve Jobs. Microsoft released Excel for Windows two years later in 1987.

Excel wasn’t the first spreadsheet software. VisiCalc was the market leader in the early 1980s followed by Lotus 1-2-3 in 1983. Microsoft ultimately beat Lotus to the punch in releasing Windows-compatible software, leaving Microsoft as the ultimate spreadsheet victor.

In 2008, Microsoft unveiled the first online version of Excel as part of its Office Web Apps.

Related Links:

This Day In Market History: Vanguard Launches

Microsoft Shares On A Path Toward $130, Says Morgan Stanley

Photo courtesy of Microsoft Sweden via Flickr.