Nike only paid $35 for its famous swoosh logo—and cofounder Phil Knight didn't like it at first.

Nike's Phil Knight ran for Bill Bowerman at the University of Oregon before they became business partners

They became business partners when Knight tried to sell the Onitsuka Tigers to Bowerman for the Oregon track team. Bowerman told Knight he didn't just want the shoes; he wanted in on the whole deal.

Nike cofounder Phil Knight once taught accounting classes at Portland State University

Before Nike took off, Phil Knight taught accounting classes at Portland State. He met two very important people there: his wife Penelope and Carolyn Davidson, who designed Nike’s logo.

Nike started out as a Japanese shoe distributor called Blue Ribbon Sports

Nike cofounder Phil Knight’s first business venture was distributing Onitsuka Tiger running shoes in America. Knight would drive to track meets and sell the shoes out of the back of his car.

The business plan for Blue Ribbon Sports came from a Stanford assignment

Nike cofounder Phil Knight’s original idea was to begin selling Japanese shoes, which were cheaper and just as light and durable as the leading German shoes from Adidas and Puma, at a lower price in the American market. His last assignment in business school at Stanford became the original business plan for Blue Ribbon Sports.

Nike was almost named ‘Dimension Six’

Jeff Johnson, the company’s first full-time employee, said the name came to him in a dream just before Blue Ribbon Sports filed a patent for the “Nike” football shoe. Nike cofounder Phil Knight wanted to name the company “Dimension Six,” but was ultimately convinced that a one-word name would be better. (Some users may experience a paywall.)

Nike couldn’t sign legendary distance runner Steve Prefontaine due to regulations

Because of amateur running regulations, Prefontaine—who held every American running record from 2,000 to 10,000 meters at the time—couldn’t do a paid endorsement for Nike. So Nike’s Phil Knight decided to give him a $5K yearly stipend and print business cards that said Prefontaine was the “National Director of Public Affairs.” When asked what that meant, Knight said, “it means he can run fast.”

Nike went public in 1980, and the first share sold at $22

Nike stock plummeted in the four years that followed the company’s initial public offering (IPO). The company’s deal with Michael Jordan in 1984 ultimately revived investor confidence.

The first shoes Jordan got from Nike were against NBA regulations

The initial mockups Nike gave Jordan were entirely black and red. The NBA had strict rules around shoe color at the time that these colors violated. The story goes that Nike paid the $5K fine for each game that Jordan wore the shoes in, but there’s no photographic evidence that Jordan ever wore them in a game at all. Regardless, Nike created the “banned” ad, capitalizing on the controversy.

Kanye abruptly left Nike in 2013 and took his Air Yeezys to Adidas for $10M

In 2009, Kanye West became the first non-athlete Nike produced a signature shoe for. However, Kanye left Nike for the company’s rival, Adidas, just a few years later. Kanye said Nike was stifling his creative vision, and he felt like he wasn’t getting enough royalties.

Nike made retailers pay for Air Jordans upfront to guarantee stock

Instead of paying for the inventory sold, Knight locked retailers into iron-clad agreements, where the companies would pay upfront for Nike inventory (but at a 7% discount). Knight did this to leverage debt, allowing retailers a better chance at getting the wildly popular Air Jordans.

One of Nike’s most transformational executives started out as its lawyer

Rob Strasser helped settle a lawsuit against Onitsuka Tiger when Blue Ribbon Sports became Nike and stopped distributing the Japanese shoes. Strasser then became a powerhouse at Nike credited with saving the company from going under in the 1970s, before leaving the company in 1987.

Nike is one of the world’s most recognizable brands

People recognize the Nike “swoosh” brand logo all over the world. The simplicity of the logo and the short, snappy name of the company are largely responsible for the brand’s wide-sweeping visibility.

Bill Bowerman’s daughter-in-law found the waffle iron he used to create a breakthrough shoe

Nike cofounder and University of Oregon track coach Bill Bowerman poured polyurethane into a waffle iron for his first attempt at creating the revolutionary waffle-knit sole. The waffle iron, which was found in his backyard, now sits in Nike’s headquarters.

X's bird logo cost just $15 and wasn't added until four years after launch

When Twitter launched in 2006, it featured green, slimy lettering and lacked the now-famous bird icon. The bird was adopted in 2010 and eventually became the platform's official logo—unofficially named Larry after NBA legend Larry Bird.

These famous brands used to have different names

Did you know that Nike used to be called Blue Ribbon Sports? Or that Google was originally named BackRub? Getting a brand's name right is a tough job; there's an entire cottage industry of brand naming agencies to prove it. See which brands got it right the first time—and which ones might be better off with their current names—in this article.

Nike’s labor practices became controversial in the 1990s—leading to widespread protests of the brand

In the 1990s, Nike came under fire for its use of factories with unsafe working conditions and child labour to produce its products. While Nike didn’t own the manufacturing sites, many people felt Nike was ultimately responsible for using sweatshops in countries like Vietnam and Thailand.

The Beatles once sued Nike

Nike used The Beatles' "Revolution" in an ad, sparking a $15M lawsuit over the song's use. While The Beatles and Nike ultimately reached an agreement, Nike ushered in the modern practice of using hit songs in advertisements, as opposed to jingles or covers.

Michael Jordan’s mother persuaded him to meet with Nike instead of Adidas

Michael Jordan wore Converse when he played at UNC Chapel Hill, but always wanted to wear Adidas when he went to the NBA. He tried to get Adidas to match Nike's $2.5M deal, but Adidas wouldn’t do it.

Shaquille O’Neal showed up to a meeting with Nike wearing head-to-toe Reebok

Nike wanted to sign then-newcomer Shaquille O’Neill, but didn’t offer Shaq his own shoe because they had already signed Alonzo Mourning. Shaq said he felt like Nike didn’t understand his potential, and the company wouldn’t have given him as much creative control as Reebok would.

Nike’s slogan was inspired by a death row inmate’s last words

Advertising superstar Dan Wieden of legendary advertising agency Widen+Kennedy said he got inspiration for Nike’s “Just do it” from an inmate’s last words on death row. Wieden said the way the inmate talked about facing uncertainty inspired him.

A NASA engineer came up with the idea for the air-cushioned Nike Air shoes

Frank Rudy came to Nike with the idea of using air capsules in the soles of running shoes to provide better cushioning. The first shoe with this technology, the Tailwind, came out in 1979.

A new logo helped the NBA stay relevant in the '70s

In 1967, the American Basketball Association was formed, featuring a flashier style of offense. The competition caused player salaries to rise in both leagues. After watching Major League Baseball unveil its new logo, the NBA decided to use the same designer to create an iconic logo for the league. It debuted in 1971 and reignited basketball fans' interest.

Colin Kaepernick’s ad with Nike won an Emmy

Colin Kaepernick’s 2018 “Dream Crazy” ad with Nike became a controversial touchpoint for American politics. While many liberals applauded Nike for siding with Kaepernick’s BLM protests, many conservatives boycotted and criticized the company.

Watch Bill Nye discuss biomechanics and sustainability while shopping for sneakers

While exploring sneaker history and technology, Nye covers the science of structural design, air bubbles and materials, including algae foam. He once voiced a 20-minute guided run on the Nike Run Club app.

More than 400 investors turned Peloton down in its initial funding rounds

Peloton founder John Foley said investors rejected the company's initial funding requests because there was no clear indication of what the market for at-home fitness classes looked like. Ultimately, more than 200 angel investors gave the company its first round of cash. (Some users may experience a paywall.)

The original basketball was hand-sewn

When the first basketball landed in a peach basket in 1891, it didn't look like the leather Wilson ball you see on today's NBA courts. The basketball evolved from the nondribbling days, when a hand-sewn ball with stitching like a football was used.

Apple's first logo was a portrait of Isaac Newton sitting under a tree

Before the minimalist image of an apple with a bite taken out of it, Apple's logo depicted the fruit dangling above the physicist, likely a nod to the anecdote about his epiphany regarding gravity.

Apple's first backer recruited his own CEO to help manage the company

Wanting Steve Jobs and Steve Wozniak to focus on developing Apple computers, Mike Markkula brought in his colleague from Fairchild Semiconductor, Michael Scott. As employee number five, Scott helped professionalize the fledgling computer company and getting manufacturing off the ground. (Some users may experience a paywall.)

View the evolution of the National Science Foundation logo

When the agency was established in 1950, the logo featured an eagle holding a shield with symbols of a pyramid, a test tube, a microscope, and a lamp from which light radiated. Subsequent logos featured variations of a ring composed of people holding hands, which would eventually be redesigned to enclose a globe bearing the "NSF" abbreviation.

Why Steve Jobs always wore the same outfit

Steve Jobs is well-known for his signature outfit: a black mock turtleneck and denim jeans. The outfit originated in Japan, where Jobs observed Sony employees all wearing matching uniforms. He proposed Apple employees do the same, but that idea was rejected. However, he still decided to create his own uniform.

Many startup founders pull out-of-the-box stunts to get their businesses off the ground

Do you know Airbnb’s founders used cereal (yes, as in the breakfast food) to secure their initial round of funding? Or that PayPal’s founders once gave out free money to get people to sign up for the platform? These stories might be crazy, but they’re not uncommon.

The NBA and its players donate the fines from technical fouls to various charities

The "Fined and Philanthropic" initiative, a grant-matching program from the National Basketball Players' Association, directs the funds toward charitable organizations.

'NIL' in college sports refers to 'name, image, and likeness'

In 2021, the NCAA began allowing its student-athletes to profit from using their name, image, and likeness, now often called NIL. While this is now permitted by the NCAA, state law (and school policies) largely dictate what is permitted.

Raymond Pettibon designed Black Flag's iconic logo

Pettibon’s brother, Greg Ginn, was the guitarist for a new band in search of a logo. Pettibon delivered an image that would become one of the defining icons of punk: four black bars, meant to symbolize a waving flag.

See a timeline of early flights, patent approvals and the birth of the Wright Company

The brothers’ most intense period of creativity and progress came between 1901 and 1910, when their work at Kitty Hawk culminated in the first powered flight. The pair, however, were not the most business-savvy, and they struggled to take financial advantage of their pioneering work in the field.

Jensen Huang doesn't think Nvidia was a great company on day one

"Nvidia wasn't a great company on day one. We made it great over 31 years," explained businessman Jensen Huang on a recent podcast episode. He covered other principals and lessons he learned while building Nvidia in the epsiode too.

North Carolina adopted 'First in Flight' license plates in 1982—to snarky reviews

Many locals surfaced the irony of enshrining the accomplishments of two men from Ohio on the license plates of North Carolinans. Nonetheless, the style endures to this day, alongside Ohio’s “Birthplace of Aviation.”

Banksy once sold his highly valued artwork on the street for $60

The notorious (and anonymous) street artist has a history of sending up the art world's pretensions. In 2013, he sold his artwork, valued at approximately $20K per piece, for $60 on a New York street. Some unassuming, but apparently aesthetically discerning, patrons took home world-renowned work that day at a steep discount.

The median trademark of public companies in the US is worth $22.5M

There are multiple approaches to evaluating the value of a trademark. Some strategies include analyzing the value of royalty payments a trademark produces and the cost of recreating the trademark or brand.

Macy’s doesn’t own its flagship location because of the 'million dollar corner'

When Macy’s moved to the Herald Square location, it reached a verbal agreement to acquire that corner of land—but at the last minute, it was sold to a rival store for roughly $1M.

Visa Founder Dee Hock abruptly left the company in 1984.

Hock was arguably an unlikely candidate for the founder of one of the most successful banking organizations of all time. He grew up extremely poor in rural Utah without indoor plumbing, but would go on to create one of the most innovative financial technologies of the 20th century.

Amazon didn't have a profitable quarter until 2001, more than 6 years into its existence

Jeff Bezos, however, took pride in Amazon's early unprofitability, reinvesting the money Amazon made back into its business, prioritizing investment into long-term growth and customer acquisition over short-term gains.

Only 34% of Americans supported the Apollo program in 1967

After a fire killed three astronauts on the launchpad of Apollo 1, the public became ambivalent about funding the multibillion-dollar program until the successful moon landing in 1969. The landers alone cost $388M, while each spacesuit cost $100,000.

Why donors love to give to the wealthy schools

In this podcast episode of Revisionist History, Malcolm Gladwell explores why Hank Rowan’s $100 million gift to a small New Jersey college didn’t inspire others to support underfunded schools. Instead, donors continue to flock to elite institutions like Harvard and Stanford. “My Little Hundred Million” examines ways ideology and prestige have reshaped educational giving.

Watch a medley of Pets.com commercials with the famous sock puppet mascot

Pets.com used a sock puppet decorated like a dog (operated by comedian Michael Ian Black) as the company's mascot. The sock puppet became synonymous with the brand. An auto lender company called BarNone Inc. later purchased the sock puppet for $125K and rebranded it with the slogan "Everybody deserves a second chance."

Leonard Lauder, one of Estée's sons, invented the slant on a tube of lipstick

Leonard Lauder was known for being an innovator, both in business and in product. He's credited with creating the now-standard slant of a lipstick tube, slicing the top off a then-bullet-shaped lipstick to better fit women's lips. (Some users may experience a paywall.)

How fee-free Robinhood makes money

Robinhood is both loved and hated by retail investors. Although its mobile app is easy to use and transactions on its platform are fee-free, many individuals have taken issue with a controversial practice that drives 75% of its revenues. Robinhood uses payment for order flow, essentially taking payment from other brokerages to redirect users’ trades. Read up on how PFOF works here.

Facebook settled a lawsuit over Zuckerberg allegedly stealing the original idea for the company for $65M

While at Harvard, three students (Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra) approached Mark Zuckerberg with the idea for a platform exclusively for Harvard students called ConnectU. Those students sued Facebook, alleging that Zuckerberg stole the idea from the trio.

The most expensive ad of all time was for Chanel No. 5 perfume

The video ad, starring actress Nicole Kidman, aired in 2004 and cost roughly $33M at the time (when accounting for inflation, that would be roughly $57M in 2026). You can watch the ad spot in full here.

Meet a payday lender who tried to fight the industry

Phil Locke once ran more than 40 payday lending stores in Michigan before walking away from lending in 2012. Locke left because he said he felt guilty about being a predatory lender. He tried to become a consumer protection advocate and influence reform, but ended up returning to the industry. (Some users may experience an email wall.)