Dream Works SKG, another alliance, was formed in 1995 under the joint leadership of Stephen Spielberg, Katzenberg (formerly head of walt Disney pictures), and David Geffen (head of Geffen Records). in march 1995, Dream works announced that Paul Allen, a co-founder of Microsoft, had invested 500 million in the venture this was soon followed by an announcemeant that Microsoft had signed a development agreement with Dream Works, accompanied by an undisclosed sum.