Gateway 2000 Gone But Not Forgotten
A chance encounter between Ted Waitt, a University of Iowa sophomore studying marketing and business, and Mike Hammond, a computer store employee in Des Moines, in the fall of 1984 would lead to the two going into business together less than a year later. The company they founded, TIPC Network, was a computer mail-order business that launched on September 5, 1985. Waitt’s grandmother, Mildred Smith (known as “Mo Mo” to her grandchildren), put up her $15,000 certificate of deposit as collateral to secure a $10,000 loan used to get the operation off the ground....