This Day in Business History: Napster Initiates Ripple of Disruption in the Music Industry

June 1, 1999: The world’s first peer-to-peer music sharing site, Napster, launched on this date. Before Napster, music lovers were limited to purchasing music as hard copies on CDs, vinyl, or cassettes. Napster enabled users to share music files in MP3 format, initiating a massive disruption in the music industry. Within just a year of…

This Day in Business History: Facebook IPOs

May 18 2012: Facebook started trading on NASDAQ as FB, with common stock priced at $38 per share. This gave Facebook a $104B valuation, nearly four times Google’s $23B valuation at it’s 2004 IPO. The IPO was notable for more than its size; as technical glitches at NASDAQ later led to lawsuits from shareholders. Sources: …

This Day in Business History: The Chunnel Opens

May 6, 1994: The “Chunnel,” a rail tunnel under the English Channel, officially opened. This 31 mile tunnel connects Folkstone, England with Sangatte, France.  Construction began in 1988, with drilling commencing from both countries.  The tunnel goes down as far as 50 feet deep, and the underwater section is 23.5 miles, the longest undersea tunnel in…

This Day in Business History: Empire State Building Opens

May 1, 1931: The Empire State Building opens in New York City, standing as the tallest building in the skyline for 40 years.  It is now the fifth tallest building in the United States and the 28th tallest building in the world. Opening during the Great Depression, the building has been a part of many…

Goizueta Faculty Interview: Professor Jeff Rosensweig on the Intersection of Theory and Practice

Professor Jeffrey Rosensweig is Associate Professor of International Business and Finance at Goizueta Business School. He is also the director of the Global Perspectives Program and the new John Robson Program for the Study of Business, Public Policy, and Government. Speaking with business librarian Saira Raza, Professor Rosensweig discusses his journey to academia and his…

This Day in Business History: McDonald’s Opens First Franchise

April 15, 1955: Ray Kroc opened the first McDonald’s franchise in Des Plaines, Illinois, having purchased the rights to franchise the restaurant across the country from the founders, Maurice and Richard McDonald.  To announce the grand opening, Kroc ran in add in the Des Plaines Journal, advertising “speedee service” and “plenty of free parking,” along with…

This Day in Business History: Apple Inc. Is Founded By Steve Jobs and Steve Wozniak

April 1, 1976: College dropouts Steve Jobs and Steve Wozniak founded Apple Computers, Inc. The two wanted to make computers small enough for people to have in their homes and offices. Ever wondered how they came up with the company name? According to an interview that Wozniak did with Byte magazine in December 1984, he credited Jobs with…