What Does iMac Mean?
IMac is a brand name derived from Internet Macintosh that refers to a Macintosh computer produced by Apple Inc. and released in mid-August 1999. The iMac was designed for the Internet and came with a unique translucent case with a built-in 15 inch display, a 233 MHz PowerPC G3 processor (and later with 500, 600, or 700 MHz processors), 32 Mb of SDRAM, the Mac OS, a 4 Gb hard drive, a 24 speed CD-ROM drive, a built-in 56k modem, 10/100 BASE Ethernet, and built-in 12 Mbps USB ports for connecting disk drives, printers, cameras and a host of other peripherals.
Techopedia Explains iMac
The iMac was designed to win back former Mac users who had switched to Intel-based PCs, as well as gain new users. Although the iMac was more expensive than comparable PCs and never contained a floppy disk drive, setting up, running applications and connecting to the Internet was easy. As a result, sales exceeded Apple Computer’s expectations. By 2001, second-generation iMacs with LCD screens hit the market. In 2003, Apple came out with the third-generation iMac, which had eight times the memory and 20 times the hard drive space as the original iMac. In 2006 iMacs were produced with Intel-based chips.
The iMac was the first major success that Steve Jobs had upon his return to Apple. He of course followed this with the iPod, iTunes, iPhone, iPad, etc.