Tuition Reimbursement: Adobe was started in December 1982 by Charles Geschke and John Warnock in Warnock’s garage. The name of the company, Adobe, comes from Adobe Creek in Los Altos, California, which ran behind Warnock’s house.
Adobe’s corporate logo features a stylized “A” and was designed by Marva Warnock, graphic designer and John Warnock’s wife.
Steve Jobs asked to buy the company for five million dollars in 1982, but Warnock and Geschke refused.
Their investors urged them to work something out with Jobs, so they agreed to sell him shares worth 19% of the company, for which Jobs paid a five-times multiple of their company’s valuation at the time, plus a five-year license fee for PostScript, in advance.
The purchase and advance made Adobe the first company in the history of Silicon Valley.