Jobs made a point of casting Disney as merely the distributor of a Pixar film.
"He kept saying, 'We at Pixar are the real thing and you Disney guys are shit,'" recalled Michael Eisner.
"But we were the ones who made Toy Story work. We helped shape the movie,
and we pulled together all of our divisions, from our consumer marketers to the Disney Channel, to make it a hit."
Jobs came to the conclusion that the fundamental issue--Whose movie was it?--would have to be settled contractually rather than by a war of words.
"After Toy Story's success," he said, "I realized that we needed to cut a new deal with Disney
if we were ever to build a studio and not just be a work-for-hire place."
But in order to sit down with Disney on an equal basis, Pixar had to bring money to the table.
That required a successful IPO. The public offering occurred exactly one week after Toy Story's opening.
Jobs had gambled that the movie would be successful, and the risky bet paid off, big-time.
As with the Apple IPO, a celebration was planned at the San Francisco office of the lead underwriter at 7 a.m., when the shares were to go on sale.
The plan had originally been for the first shares to be offered at about $14, to be sure they would sell.
Jobs insisted on pricing them at $22, which would give the company more money if the offering was a success.
It was, beyond even his wildest hopes. It exceeded Netscape as the biggest IPO of the year.