Nike is a multinational corporation that is known for designing, developing, and selling athletic footwear, apparel, and equipment. The company was founded in 1964 by University of Oregon track athlete Phil Knight and his coach Bill Bowerman. Nike's early success was fueled by the popularity of the waffle sole running shoe, which was designed by Bowerman and first released in 1972. Today, Nike is one of the world's largest suppliers of athletic shoes and apparel, with a global presence in over 190 countries. The company is headquartered in Beaverton, Oregon, and employs over 70,000 people worldwide. Nike is known for its innovative products, iconic branding, and strong marketing campaigns, which have helped the company become one of the most valuable brands in the world.