Microsoft is perhaps the most recognizable name in terms of home computers, other than maybe Apple. However, the company, founded in 1974 by Bill Gates and Paul Allen, is turning 40 today. So, what does Microsoft's history look like now?

Well, Bill Gates is perhaps the first most famous dropout Harvard ever had, as ABC News points out that Mark Zuckerberg came long after Gates. Allen, the other half of the dynamic duo that formed the company is noted for having laid claim to suggesting the name when he and Gates first decided to launch it.

Microsoft released its first product, which was a software program for the Altair 8800. Sales had topped $1 million by the end of 1978. In 1980 IBM made Microsoft the offer to provide the DOS operating systems for their computers, and that launched Microsoft into a leadership position in terms of software companies.

Microsoft announced its first Windows product in 1983, and in 1985 Windows 1.0 was shipped. This started a whole new era for Microsoft and for computer software in general, as windows made the computer readily accessible to almost any level of user.

The launch of the Windows product line grew the company's popularity and in 1986 Gates and Allen took it public. The initial share price for Microsoft stock was just $21 per share. The investors went wild, purchasing the stock and boosting the company's value even higher.

In 1989 Microsoft crossed into the domain of Steve Jobs and launched Microsoft Office for Mac. Then, in 1990 Windows 3.0 hit the streets and a completely new format was introduced to the world. The difference for Windows 3.0 was the incredibly advanced graphic interface. Up until that time, only text was used on the screen and gaming was almost non-existent.

In 1995 Microsoft took it a step further with Windows 95, which introduced the Start menu, as well as the task bar and other features, such as the minimize/maximize and close buttons. These features are items we take for granted now, but prior to 1995 they didn't exist.

Gates appears to have been able to foresee the future, as in 1995 he called the Internet "the most important development since the advent of the PC." As it turns out, he was absolutely right in his predictions about the web, and with the advent of it came Internet Explorer, Microsoft's in house browser.

In 2000 Gates stepped aside as CEO of the giant corporation and in his place Steve Ballmer filled the gap for 14 years. Melinda, Bill's wife helped him found the Bill and Melinda Gates Foundation using the money he made from Microsoft. It's the largest foundation in the world, and Gates uses it to fund many different charities.

In 2001 Windos XP was introduced to the world, making Windows even more inviting to users of all ages. Since then, Windows Vista, Windows 7, and Windows 8 have come and gone, and Windows 10 is on the way, as well as a brand new browser. Microsoft is more than healthy at 40, and while competitors, such as Google, are stepping up, the company has a very strong product line and a very bright future.