IBM is actually the initials of International Business Machines.
The "e" prefix came about with the advent of the Internet, and was short for "electronic" as in "e-Mail", "e-Commerce", "e-Business", e-Banking etc.
The correct usage as a prefix would be for the letter to be followed by a hyphen "-".
The "i" affix was originally coined by Apple and was supposedly to signify "Internet".
Yeah right 
More like, as with most things from Apple. A lowercase i in a cursive font followed by a Title case word in a block font looked "cool"
irobot.gif thanks go to Isaac Asimov for the inspiration
Apart from that, it turns an average word into a highly brandable name, trademark and logo.
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A foolish consistency is the hobgoblin of little minds
Thought for today:- I SEO the only industry where all the cowboys are Indians?
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