Gateway Inc. was the American computer company situated in Irvine, California; it designed, made and marketed personal computers, servers, monitors and computer peripheral devices.
Ted Waitt and Mike Hammond, who had only $10.000 initial budget together with a three-page business plan and leasehold computer, established it in 1985 on a farm in Iowa. However, out of this, they managed to create one of the most famous American brands, popular among millions of customers; its innovative technologies were accepted as standards for the whole computer industry. They preserved the symbol of their origin in the design of their company’s logo in particular. Gateway adopted Dell’s business model – selling products without intermediaries.
Gateway became a public company in 1993 floating its shares at NASDAQ; in 1997, they appeared at New York Stock Exchange, too.
In 1990s, Gateway introduced to the public its portable computer, the Nomad, which was one of the first of this kind in the world. Besides, the company was the first that released smart TV, the Destination. It consisted of a 32-inch monitor and stereo system.
Unfortunately, Gateway business was not developing well enough as everybody expected. In 2004, its authorities decided to buy one of their rival companies, eMachines (it was sold for about $260 million), which seemed to be rather perspective. Furthermore, they invited the chiefs from it to take charge of their company.
Gateway’s competitors were mainly Dell, Apple, HP, Sony, Toshiba, Lenovo and Fujitsu.
In 2007, Gateway was bought by Acer for $710 million. Yet, some products continued to be released under the Gateway brand until 2011. Then, Acer announced that it would be changed for Acer Business.