Mustang Software, Inc. was a California-based corporation that developed telecommunications software products. Mustang was incorporated in 1988, became a public corporation (NASDAQ ticker symbol MSTG) in 1995, and was finally merged into in 2000. Mustang's first software products were sold using the shareware model. As the company grew, the products were soon migrated to shrinkware. During the rise of the Internet and electronic software distribution, Mustang stopped distributing physical products and instead sold licenses to its software.