Virgin history

In 1971 he opened a small, discount record shop that was also a hit.

Private Company Founded: 1973 as Virgin RecordsEmployees: 7,900Sales: $1.2 billionSICs: 4512 Air Transportation, Scheduled; 5735 Record andPrerecorded Tape Stores; 7372 Prepackaged Software;7929 Entertainers and Entertainment Groups

When Wozniak told Jobs of his progress in designing his own computer logic board, Jobs suggested that they go into business together, which they did after Hewlett-Packard formally turned down Wozniak’s design in 1976.

Then, in 1976, the Pistols were dumped by the company that held their recording contract, following a particularly offensive display by the band on national television.

1977: Virgin Records signs the Sex Pistols to a recording contract.

In 1984 he became the majority backer of the airline that he renamed Virgin Atlantic Airways.

Meanwhile, in 1986 Jobs acquired a controlling interest in Pixar, a computer graphics firm that had been founded as a division of Lucasfilm Ltd., the production company of Hollywood movie director George Lucas.

1986: Virgin Group PLC is taken public through a $56 million stock offering.

Virgin Records and Virgin Music Publishing launch in the UK. Virgin Records later expands to the USA (1986).

Late in 1992, for example, Virgin announced a joint venture with Florida tycoon and entrepreneur H. Wayne Huizenga of Blockbuster Video.

Branson diminished his holdings significantly when he sold Virgin Records for about $1 billion early in 1992, evidencing his intent to focus on his airline operations.

And in 1994 Virgin launched an AM radio station aimed at music listeners in the 25 to 44 age group.

Over the following decade Jobs built Pixar into a major animation studio that, among other achievements, produced the first full-length feature film to be completely computer-animated, Toy Story, in 1995.

Also in 1995 Virgin acquired MGM Cinemas, the largest movie theater operator in the United Kingdom; it soon sold a number of the chain’s smaller cinemas to concentrate on multiplexes.

1995: Virgin Direct is created, representing the group's entrance into financial services.

In 1997 the Virgin Rail Group was formed following the acquisition of two aging, poorly maintained rail lines as part of the privatization of British Rail.

Richard Branson published an autobiography, Losing My Virginity: How I’ve Survived, Had Fun, and Made a Fortune Doing Business My Way (1998, updated ed.

In late 1999, however, Virgin announced that it would sell its cinema interests in Britain and Ireland to Vivendi of France.

The group continued to operate a Virgin Cinemas Japan unit, and announced, also in late 1999, that it would spend up to US$200 million to develop 20 multiplexes in Japan by the early 21st century; a number of Virgin multiplexes in the United States were also under consideration.

The two companies had previously argued over the terms of the agreement made in 1999 and Richard Branson had filed a High Court action against T-Mobile.

Soon after the Virgin Mobile launch in the United Kingdom, the company added mobile telephone services in Singapore, in partnership with Singapore Telecom (which also became a major shareholder). The intense competition of that market, however, forced the company to withdraw by 2002.

In the meantime, the group’s U.K. operation thrived, and by 2002 had signed up nearly two million subscribers, making it the country’s fastest-growing mobile telephone company.

Branson had considered making Virgin Mobile public in 2002.

In preparation, the company announced its intention to float seven companies, including Virgin Blue, in 2003 in order to raise funding for its United States expansion.

The company reported its first annual profit in 2003, following successful Christmas sales.

In 2004 Branson formed Virgin Galactic, a space tourism company that was working toward offering commercial suborbital passenger flights.

Virgin was also an early entrant into the market for music downloads in the United Kingdom, with the launch of Virgin Digital in 2004.

In 2004 Deutsche Telekom sold their 50% holding in Virgin Mobile to the Virgin Group, with the agreement that if the company were to become public in the following two and a half years they would receive 25% of the proceeds.

Branson later helped fund Fossett’s record-setting flight in 2005, in which he completed the first solo nonstop circumnavigation of the world in an airplane.

More down to earth operations included the launch of Virgin Nigeria airline in a joint venture with the Nigerian government, with plans to begin flights in 2005.

He eventually sold the studio to the Disney Company in 2006.

That company initially intended to begin operations at the end of 2006.

The first V festival is held in the UK. It later expands to the USA and Canada (2006). Rock on.

Virgin Unite incubates two initiatives in South Africa: Pride ’n’ Purpose and the Branson Centre of Entrepreneurship, which later expands to Jamaica (2011).

In 2021 Branson made a suborbital spaceflight in a Virgin Galactic spacecraft, part of his space tourism company.