Founded by Steven Shore and Barry Prevor at the University of Pennsylvania in 1985 while Prevor was an undergraduate student, Steve & Barry's became a local popular destination due to its low prices compared to other university bookstores and gift stores. The success of the original store led to the opening of locations on university campuses, including Michigan State University, the University of Michigan, the University of Illinois, the University of Wisconsin–Madison, Indiana University, Rutgers University, the University of Colorado at Boulder, and Purdue University.