Let’s talk about Larry Ellison Oracle. No doubt Oracle is a great company with many achievements and contributions in technology world development. Behind this great company, there is also a great man which is currently holds the position of the third richest man in the United States of America with total estimated wealth of $33 billion.
Ellison, who was born in the Bronx, New York and did not had a particularly amazing childhood, worked really hard to achieve what he is today. He started a company called Software Development Labs with two of his colleague friends, Robert Miner and Ed Dates. They signed a contract with CIA to build a relational database system management. The project, as any CIA project does, had a code name “Oracle”. Until here you can now guess where the name of his company comes from.
They successfully finished the project early on schedule and used the remaining time to develop the commercial version of the database. They were allowed to use the name Oracle for their software and soon it became a hit, especially when IBM adopted it as its mainframe systems. As a tribute to its best selling product, Ellison changed the name of the company into Oracle Corporation.
Larry Ellison Oracle firstly went public in 1986 and instantly gained $31.5 million to its revenue. However, bad management and low quality human staff had made Oracle go down when it started losing in 1990. Ellison admitted the mismanagement he made and tried the best he could to remedy the situation.
Things got better in 1992 when it released its new database program called Oracle 7. From here, everything started going back to normal. Oracle went through its second golden moments throughout 1990s when almost all companies in America used Oracle database program.
Ellison continues to expand Oracle by conducting several acquisitions. SAP, Siebel Systems, and Hyper Solutions are several companies which were acquired by Larry Ellison Oracle.