The Nike logo , or the world-famous "swoosh", was designed by graphic arts student Carolyn Davidson in 1971. Carolyn met the co-founder of the Nike brand, Phil Knight , who taught accounting classes at the university. He learned that Carolyn needed money for oil painting lessons, so he offered her a side job at Nike (then known as Blue Ribbon Sports ).
She was rated at $2 an hour (about $14 today). Knight tasked her with creating something original and memorable as quickly as possible. She found inspiration in the wing of the Greek goddess of victory, Nike , after whom the brand was named.
The logo is meant to symbolize movement, speed and dynamism. Although Knight did not like the proposed logo, he eventually approved it due to time constraints. Carolyn was paid $35 (about $206 today) for her work on the grounds that she worked on the design for 17.5 hours, although she claims she worked longer on the design.
Twelve years later, in 1983, Knight presented her with a gold ring with a diamond "swoosh" logo as well as some Nike stock as a token of gratitude (the exact amount was not disclosed).
