https://youtube.com/watch?v=03pY4ZBA-9o
Saylor started MicroStrategy in 1989 with a consulting contract from DuPont, which provided Saylor with $250,000 in start-up capital and office space in Wilmington, Delaware. Saylor was soon joined by company co-founder Sanju Bansal, whom he had met while the two were students at Massachusetts Institute of Technology. The company produced software for data mining and business intelligence using nonlinear mathematics, an idea inspired by a course on systems-dynamics theory that they took at MIT.
In 1992, MicroStrategy gained its first major client when it signed a $10 million contract with McDonald’s. It increased revenues by 100% each year between 1990 and 1996. In 1994, the company’s offices and its 50 employees moved from Delaware to Tysons Corner, Virginia
On June 11, 1998, MicroStrategy became a public company via an initial public offering.
In 2000, the company founded Alarm.com as part of its research and development unit.
On March 20, 2000, after a review of its accounting practices, the company announced that it would restate its financial results for the preceding two years. Its stock price, which had risen from $7 per share to as high as $333 per share in a year, fell $120 per share, or 62%, in a day in what is regarded as the bursting of the dot-com bubble.
In December 2000, the U.S. Securities and Exchange Commission brought charges against the company and its executivesA lawsuit was subsequently filed against MicroStrategy and certain of its officials over fraud.[16] In December 2000, Saylor, Bansal, and the company’s former CFO settled with the SEC without admitting wrongdoing, each paying $350,000 in fines. The officers also paid a combined total of $10 million in disgorgement. The company settled with the SEC, hiring an independent director to ensure regulatory compliance.
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