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42	42	Richard Schulze and his business partners opens up Sound of Music store in St. Paul, Minnesota, USA in 1966. The company acquires Kencraft Hi-Fi Company and Bergo Company in 1967. Sound of Music becomes a publicly traded company a year after and it opens three stores in the Twin Cities area. By 1970, the company hits the $1 million mark in annual revenue. After a decade of expansion, in 1983, the board of directors of the company approves a new corporate name, Best Buy Co., Inc. in 1983. The company with changed name issues IPO on the Nasdaq in 1985 to raise $8 million. Another public stock offering in the following year raises $33.6 million, which helped a 12-store expansion for the company.
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44		-In 1989, Best Buy unveils a revolutionary “grab-and-go” store format in a non-commissioned, warehouse-style environment; Best Buy’s brand logo changes to the familiar yellow tag. In 1993, Best Buy becomes the nation's second-largest consumer electronics retailer. In 1995, Best Buy ranked 373 among Fortune's 500 largest American companies. In 1999, Best Buy partnered with Microsoft to cross-promote products. Best Buy enters the online retailing business by launching www.bestbuy.com in 2000. The company enters the international market buy acquiring Future Shop in Canada in 2001. In 2003, Best Buy opens its first global sourcing office in Shanghai, China. Best Buy was named "Company of the Year" by Forbes Magazine in 2004. In 2006, Best Buy acquires majority interest in Jiangsu Five Star Appliance stores in China. The company opens its first retail store in Shanghai, China in 2007.{{footnote}}https://corporate.bestbuy.com/wp-content/uploads/downloads/BBY_TimeLine.pdf{{/footnote}} However, the operation in China was merged with Jiangsu Five Star in 2011 and Best Buy ceased operating in China by closing all of its stores that year.
	44	+In 1989, Best Buy unveils a revolutionary “grab-and-go” store format in a non-commissioned, warehouse-style environment; Best Buy’s brand logo changes to the familiar yellow tag. In 1993, Best Buy becomes the nation's second-largest consumer electronics retailer. In 1995, Best Buy ranked 373 among Fortune's 500 largest American companies. In 1999, Best Buy partnered with Microsoft to cross-promote products. Best Buy enters the online retailing business by launching www.bestbuy.com in 2000. The company enters the international market buy acquiring Future Shop in Canada in 2001. In 2003, Best Buy opens its first global sourcing office in Shanghai, China. Best Buy was named "Company of the Year" by Forbes Magazine in 2004. In 2006, Best Buy acquires majority interest in Jiangsu Five Star Appliance stores in China. The company opens its first retail store in Shanghai, China in 2007. However, the operation in China was merged with Jiangsu Five Star in 2011 and Best Buy ceased operating in China by closing all of its stores that year.
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46		-In April 2013, Best Buy exited the European consumer electronics market when it sold its 50% stake in The Carphone Warehouse back to the UK-based mobile phone retailer.
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