Venture capitalist who bet on Apple nearly 50 years ago: Questionable management, price is rich, but ‘home-hobby computers’ are hot

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found Venture capitalist who bet on Apple nearly 50 years ago: Questionable management, price is rich, but ‘home-hobby computers’ are hotSequoia Capital deal memo on Apple, which turned 50 this week, has just been revealed to the publicLast Updated: April 2, 2026 at 10:31 a.m. ETFirst Published: April 2, 2026 at 8:55 a.m. ETShareResizeListen(3 min)Apple estimated its revenue would rise from $750,000 in 1977 to $14 million in 1978. Thirty years later came the iPhone. Photo: Tony Avelar/Agence France-Presse/Getty ImagesA noted Silicon Valley venture-capital firm made a pretty expensive gamble almost 50 years ago on what is today one of the world’s biggest and most influential companies. The deal memo has just been released. Sequoia Capital founder Don Valentine invested $150,000 in Apple AAPL in 1978, making him one of the Macintosh personal-computer maker’s earliest investors. Founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne, the startup struggled to attract investment. It went public in 1980 on the Nasdaq at $22 a share. About the Author Nora RedmondNora Redmond is a MarketWatch reporter based in London.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.