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A programmer, Wallace was one of 11 people who in 1978 founded a new company in Albuquerque, New Mexico, called "Micro Soft". (The company moved to a small town outside Seattle and is now known as "Microsoft".) He left the software giant in 1983 to found Quicksoft. His PC-Write program was one of the first professional software packages to be marketed with a new concept called "Shareware". Copies could be freely made, but if people wanted a manual and support, they had to register it by paying a $75 fee. "If I make enough money to live on, I will continue the experiment," he said when the program was released. "If not, I will approach software publishers to see if they are interested in marketing a PC-Write II version of the program for me commercially." It was a success: Quicksoft eventually grew to $2 million in annual sales, and he sold the company to another early Microsoft employee. His 450 shares of Microsoft weren't worth much until 1986, when the company went public. After a number of stock splits, the 450 shares became more than 100,000 shares. He died September 20 in San Rafael, Calif., from unknown causes at age 53.
From This is True for 22 September 2002
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