White Software emerged as a standout success, impressing many companies and leaving Apple users highly satisfied. The era of subpar software was over, and it was clear that the quality of software mattered just as much as the computer itself.
Venture capital firms finally realized why others had refrained from investing. Even if they were willing to invest, White Software had no need for additional funds. Their products were already polished to perfection, and they had no intention of allowing outsiders to take advantage of their success.
Venture capital interest waned, but investment banks began to take notice. White Software's potential for an IPO was evident, and securing a round of financing seemed like a logical next step. The possibility of introducing strategic investors was also on the table.
However, one notable difference was that dozens of New York banks had been blacklisted by White Software. This move puzzled some, as these banks might not have cared about their blacklisted status. To them, White Software was still a relatively small player.
Nevertheless, the influence of a bestselling author was undeniable. Even if they had been blacklisted, these banks hoped to mend their relationship when the timing was right.
Within a few days, thousands of software units were shipped, a performance that astounded the industry. This translated into hundreds of thousands of dollars in revenue. Based on the current trajectory, White Software's monthly revenue was set to exceed one million dollars.
The initial valuation of $10 million now seemed laughable. William White would never agree to such a price, knowing that it vastly undervalued his company.
Meanwhile, Apple's shipments surged, with the potential to reach 20,000 units per month. It became clear that Morgan Stanley had underestimated the situation. If sales continued to grow, the valuation would need to increase by at least 50%.
White Software's reach extended beyond Apple's products, with almost all mainstream systems in the market involved. While Apple held a 30% market share, the potential for growth was significant, considering the vast number of potential users in the market.
The question remained about the software's life cycle and the potential entry of competitors. The entry of IT giants like HP and IBM could change the landscape entirely, but for now, the market was White Software's to dominate.
Back at their hotel, William White decided to move to a villa, finding hotels uncomfortable for extended stays. He instructed his assistant, Forbe, to arrange it.
Forbe also suggested celebrating with a party and distributing red envelopes to the employees to commemorate the success. William agreed to provide red envelopes of $20,000 each to celebrate.
The idea of red envelopes, though not common in the United States, was well-received by employees. It was a personal gesture, distinct from contractual salaries and bonuses. However, given the contractual nature of employment in the U.S., excessive red envelope amounts could potentially lead to issues.
In any case, White Software's success had surprised everyone except William White. Even the initial hires in Texas who had been skeptical at the beginning were now witnessing the company's rise to prominence.
White Software had become an overnight sensation, making recruitment much easier. Many individuals wanted to join the company, but most positions were already filled. The regret of those who initially hesitated was palpable.
The legend of White Software was taking shape. While Texans were not universally popular in the U.S., the company's success and unique origin had piqued the interest of Silicon Valley.
The firm's security guards, who also hailed from Texas, displayed their Texan roots by wearing cowboy hats. This cultural contrast amused and puzzled many in Silicon Valley, but it was just another aspect of the uniqueness of White Software.
Despite the initial misgivings, the Silicon Valley community recognized the company's potential and its wealthy Texan owner. White Software was unlike most startups in the area, making it an intriguing addition to the tech landscape.
Forbe suggested renting a villa, as hotels had grown uncomfortable for extended stays. William White agreed and instructed Forbe to arrange it.
He also proposed hosting a celebration party and distributing red envelopes to employees as a gesture of appreciation. William White approved, suggesting red envelopes of $20,000 each.
Red envelopes were not a common practice in the United States, but they were well-received by the employees. In a contractual society, where salaries and bonuses were determined by contracts, red envelopes were a personal touch that resonated with the staff.
While Silicon Valley remained relatively unaware of the budding software company, the Hunt family was closely monitoring White Software. Their rivalry with William White had not abated, and they continued to keep a watchful eye on his endeavors.
The rapid success of White Software surprised many. With thousands of software units shipped within days, the company's revenue had already reached hundreds of thousands of dollars. As for Apple, its shipments were on the rise, with the potential to reach 20,000 units per month.
The initial valuation of $10 million now seemed ludicrously low. It was evident that William White would never agree to such a valuation, knowing that the true worth of his company was significantly higher.
Furthermore, White Software's reach extended far beyond Apple's products, encompassing almost all mainstream systems in the market. While Apple held a 30% market share, the potential for growth was immense, given the large number of potential users.
Questions remained about the software's life cycle and the possibility of competitors entering the market. The entry of IT giants like HP and IBM could change the landscape entirely, but for now, the market belonged to White Software.
In the midst of this success, William White made the decision to move from his hotel to a villa, finding hotels uncomfortable for extended stays. His assistant, Forbe, was tasked with arranging the transition.
Forbe also suggested celebrating their achievements with a party and distributing red envelopes to employees. William White agreed and suggested giving each employee a red envelope containing $20,000 as a token of appreciation.
While red envelopes were not a common practice in the United States, they were well-received by the employees. In a contractual society where salaries and bonuses were predefined, red envelopes added a personal touch and created a sense of camaraderie among the staff.
Despite remaining relatively unknown in Silicon Valley, White Software's success was turning heads, and the company's unique origin and wealthy Texan owner added intrigue to its story.