January 31, 1998: Apple clone maker Power Computing goes out of business, having auctioned off its office computers and supplies.
Once the fastest-growing PC company of the decade, Power Computing had already been bought out by Apple the previous year. Customers who own Power Computing stock receive Apple stock as a replacement. As it turns out, that may not have been a terrible deal.
The first Mac clones
Founded in November 1993, Power Computing set out to sell Mac clones by mail. With Dell’s mail-order computer business proving itself in the marketplace, Power Computing founder Stephen Kahng rightly figured a Mac version would do the same.
The company started talks with Apple in April 1994. By the end of that year, Power Computing secured the deal with Cupertino. Apple initially proved skeptical about working with a startup. However, Cupertino saw Power Computing as the only viable option — and issued the license. Another Mac clone-maker, Radius, later got in on the game.
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