It was twenty years ago this month that George Lucas sold Pixar to Steve Jobs. This short story explains why.
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Mr. Lucas, of Star Wars fame, needed to raise cash to settle the divorce and decided to sell a smallish piece of his Lucas Film empire. Steve Jobs was interested but deemed Lucas’ original asking price 30 million dollars, too high. Faced with the aforementioned need for liquidity, Lucas decided to let the company go at fire sale prices. Fire sale prices were exactly what Steve Jobs was looking for, so he traded ten million greenbacks for the company that would later be named Pixar.