compaq founders net worth

Second Compaq logo, used from 1993 to 2007. Binny Bansal, co-founder Flipkart. American High School Fremont Yearbook, Robert W. Stearns, SVP of Business Development, said "In [Pfeiffer's] quest for bigness, he lost an understanding of the customer and built what I call empty market share--large but not profitable", while Jim Moore, a technology strategy consultant with GeoPartners Research in Cambridge, Mass., says Pfeiffer "raced to scale without having economies of scale." Long Cut Dip, should look at everything Eckhard acquired and ask: did the customer benefit from that. This allowed Compaq to compete in the "big-iron market" without incurring the costs of running its own services or software businesses.[49]. - Free Online Library", "The Coming Local HP Implosion Swamplot: Houston's Real Estate Landscape", "Hewlett Packard Buildings #7 & #8 - Controlled Demolition, Inc", "COMPAQ: Building implosion, HP and Apple", HP-Compaq merger (washingtontechnology.com) Archived, https://en.wikipedia.org/w/index.php?title=Compaq&oldid=1127458986, American companies disestablished in 2002, Computer companies disestablished in 2002, Defunct computer companies of the United States, Pages with non-numeric formatnum arguments, Articles with dead external links from May 2017, Articles with permanently dead external links, Short description is different from Wikidata, Articles with unsourced statements from December 2022, Articles with unsourced statements from February 2019, Articles with specifically marked weasel-worded phrases from March 2014, Wikipedia articles needing clarification from May 2012, Articles containing potentially dated statements from January 2013, All articles containing potentially dated statements, Articles with unsourced statements from March 2022, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 14 December 2022, at 20:58. In May 2007, HP announced in a press release a new logo for their Compaq Division to be placed on the new model Compaq Presarios. Photo courtesy of Hewlett-Packard Show More Show Less 5 of 6 The Compaq founders: Compaq was . It was a commercial success, selling 53,000 units in its first year and generating $111 million in sales revenue. [89] The companies would dole out a combined $634.5 million in bonuses to prevent key employees from leaving if shareholders approve the proposed merger, with $370.1 million for HP employees and $264.4 million for Compaq employees. [89], In 2002, Compaq signed a merger agreement with Hewlett-Packard for US$24.2 billion,[89] including US$14.45 billion for goodwill, where each Compaq share would be exchanged for 0.6325 of a Hewlett-Packard share. Compaq produced some of the first IBM PC compatible computers, being the second company after Columbia Data Products[1] to legally reverse engineer the IBM Personal Computer. HP was still selling more PCs than any other vendor, shipping 14.9 million PCs in the second quarter of 2011 (17.5% of the market according to Gartner), while Dell and Lenovo were tied for second place, each with more than a 12% share of the market and shipments of over 10 million units. It was considerably faster than an IBM PC and was, like the original Compaq Portable, also capable of running IBM software. This was combined with Hewlett-Packard's ticker symbol (HWP) to create the current ticker symbol (HPQ). 2 in the traditional PC market, but we're focused on industry leadership in the next generation of Internet access devices and wireless mobility. Continuing its expansion into networking, Compaq Computer yesterday agreed to pay about. In 1999, when president and chief executive officer (CEO) Eckhard Pfeiffer was forced to resign after a boardroom coup led by chairman Benjamin M. Rosen, Rosen took on the capacity of interim CEO while Capellas was elevated to COO. [62], Compaq entered 1999 with strong expectations. The two married in 1979, and for the next 20 years they traveled around the world as Capellas climbed the ranks of each company he joined. [75] Mason, senior vice president and chief financial officer, had previously been offered the job of chief executive of Alliant Foodservice, Inc., a foodservice distributor based in Chicago, and he informed Compaq's board that he accepted the offer. This was combined with Hewlett-Packard's ticker symbol (HWP) to create the current ticker symbol (HPQ). On average, founders from the first five years of Y Combinator are now worth US$18 million after 5-9 years, meaning that their average net worth has increased by US$2.5 million per year When it invests in its companies, Y Combinator values them at US$1.7 million, of which each founding team owns $1.6 million. the three co-founders received backing from venture capitalist benjamin m. rosen, who became chairman of the board of compaq.during canion's tenure as compaq's ceo, the company set records for the largest first-year sales in the history of american business and reached the fortune 500 and the $1 billion revenue mark faster than any other company [29], Michael S. Swavely, president of Compaq's North American division since May 1989, took a six-month sabbatical in January 1991 (which would eventually become retirement effective on July 12, 1991). But other PC makers are fine", "The Compaq Commons Opens at Company's Worldwide Headquarters in Houston; New Facility Includes Advanced Fitness, Wellness Centers and Aggressive End Hunger Project. [54], Pfeiffer also refused to develop a potential successor, rebuffing Rosen's suggestion to recruit a few executives to create the separate position of Compaq president. [105] Though the combination of both companies' PC manufacturing capacity initially made the post-merger HP number one, it soon lost the lead and further market share to Dell which squeezed HP on low end PCs. but they didn't have anything to do with customers. In 1987, Compaq hit the $1 billion revenue mark, taking the least amount of time to reach that milestone. [60] There were accusations that Gutsch and others sought to divide top management, although this was regarded by others as sour grapes on the part of executives who were shut out of planning that involved the acquisitions of Tandem and Digital Equipment Corp.[42][61] Pfeiffer reduced the size of the group working on the deal due to news leaks, saying "We cut the team down to the minimum number of people - those who would have to be directly involved, and not one person more". Pfeiffer served through the 1990s. [citation needed]. Keiren Westwood Wife, Most of Compaq's competitors except Dell were later acquired by bigger rivals like Acer (Gateway 2000 and Packard Bell) and Lenovo absorbing IBM's PC division. [108] Overall, it has been suggested that the purchase of Compaq was not a good move for HP, due to the narrow profit margins in the commoditized PC business, especially in light of IBM's 2004 announcement to sell its PC division to Lenovo. So we encouraged Compaq to go ahead and just do a 386 machine. An IBM-made 386 machine reached the market almost a year later,[30] but by that time Compaq was the 386 supplier of choice and IBM had lost some of its prestige. Awards and recognitions His company BrowserStack has won numerous industry accolades like: It has been named to Forbes 2021 Cloud 100. Capellas also assumed the title of chairman on September 28, 2000, when Rosen stepped down from the board of directors. - Free Online Library", "The Coming Local HP Implosion Swamplot: Houston's Real Estate Landscape", "Hewlett Packard Buildings #7 & #8 - Controlled Demolition, Inc", "COMPAQ: Building implosion, HP and Apple", HP-Compaq merger (washingtontechnology.com), https://en.wikipedia.org/w/index.php?title=Compaq&oldid=986029932, Computer companies disestablished in 2002, Defunct computer companies of the United States, Articles containing potentially dated statements from 2017, All articles containing potentially dated statements, Articles with dead external links from May 2017, Articles with permanently dead external links, Articles with unsourced statements from February 2019, Articles with specifically marked weasel-worded phrases from March 2014, Wikipedia articles needing clarification from May 2012, Articles lacking reliable references from August 2015, Articles containing potentially dated statements from January 2013, Creative Commons Attribution-ShareAlike License, This page was last edited on 29 October 2020, at 11:14. Pfeiffer also made several major and some minor acquisitions. [126][127], Instead of headquartering the company in a downtown Houston skyscraper, then-CEO Rod Canion chose a West Coast-style campus surrounded by forests, where every employee had similar offices and no-one (not even the CEO) had a reserved parking spot. [56] At the same time, Compaq, through its acquisitions of the Digital Equipment Corporation last year and Tandem Computer in 1997, had tried to become a major systems company, like IBM and Hewlett-Packard. [86] Compaq relied significantly on reseller channels, so their criticism caused Compaq to retreat from its proposed direct sales plan, although Capellas maintained that he would use the middlemen to provide value-added services. Capellas stepped down as HP president on November 12, 2002, after just six months on the job, to become CEO of MCI Worldcom where he would lead its acquisition by Verizon. Packard further stated that "[Carly] Fiorinas high-handed management and her efforts to reinvent the company ran counter to the companys core values as established by the founders". [87], Analysts on Wall Street were generally critical of the merger, as both companies had been struggling before the announcement, and the stock prices of both companies dropped in the months after the merger agreement was made public. Anderson is popularly known as "Tom from Myspace" because until 2010 he would automatically be assigned as the first . In 1996, instead of expanding its own plant, Compaq asked a Taiwanese supplier to set up a new factory nearby to produce the mechanicals, with the Taiwanese supplier owning the inventory until it reached Compaq in Houston. 12:00 AM, Apr. (Windows, running on top of the MS-DOS operating system, would not become a popular "operating environment" until at least the release of Windows 3.0 in 1990.). [90] HP's offer was regarded by analysts to be overvaluing Compaq, due to Compaq's shaky financial performance in the past recent years (there were rumors that it could run out of money in 12 months and be forced to cease business operations had it stayed independent), as well as Compaq's own more conservative valuation of its assets. Compaq introduced the first PC based on Intel's new 80386 microprocessor, the Compaq Deskpro 386, in 1986. List Net Worth of American company founders, Net Worth 2019 of American company founders, including Alan Gerry, Alexander Karp, Alexander Spanos, Aneel Bhusri, Ben Ashkenazy, Brian Chesky, Bryan Sheffield, Chuck Bundrant From Dropout to 7-Figure Net Worth: The Inspiring Journey of Steven Cohen, Co-Founder of Sunder Energy. [27] Compaq computers remained the most compatible PC clones into 1984,[28] and maintained its reputation for compatibility for years,[29] even as clone BIOSes became available from Phoenix Technologies and other companies that also reverse engineered IBM's design, then sold their version to clone manufacturers. That surge led to the company raising its net revenue projection from $3.7 billion to $5.4 billion. Although Compaq had become successful by being 100 percent IBM-compatible, it decided to continue with the original AT buswhich it renamed ISA[29]instead of licensing IBM's MCA. However, by the end of the eighties many manufacturers had improved their quality and were able to produce inexpensive PCs with off-the-shelf components, incurring none of the R&D costs which allowed them to undercut Compaq's expensive computers. Pfeiffer was given US$20,000 to start up Compaq Europe[36] He started up Compaq's first overseas office in Munich in 1984. for the 199495 and 199596 seasons. A couple months after Pfeiffer's ouster, Capellas was elevated to interim chief operating officer on June 2, 2000,[79] and was soon appointed president and CEO. [11][41] It was also believed[by whom?] The founders' families who controlled a significant amount of HP shares were further irked because Fiorina had made no attempt to reach out to them and consult about the merger, instead they received the same standard roadshow presentation as other investors. In 1981, when soon-to-be Compaq Computer Corp. co-founder Joseph R. "Rod" Canion sketched out a plan for a portable IBM-compatible PC clone on a napkin in a Houston pie shop, he knew he was onto . Shirt sponsors, Market share of personal computer vendors, "Hewlett-Packard and Compaq Agree to Merge, Creating $87 Billion Global Technology Leader", "Hewlett-Packard in Deal to Buy Compaq for $25 Billion in Stock", "Compaq Appoints Michael D. Capellas President and Chief Executive Officer", "COMPAQ COMPUTER CORPORATION | The Handbook of Texas Online| Texas State Historical Association (TSHA)", "Compaq: From place mat sketch to PC giant", "Compaq Computer Corporation (American corporation) Britannica Online Encyclopedia", "Compaq Computer Looks Back and Sees the Competition Gaining New York Times", "BUSINESS PEOPLE; Compaq Founder Shifts to Religion", "Loyd Case: A Trip Down Memory Lane with Hewlett-Packard & Compaq", "Real Trouble: How Reverse Engineering May Yet Kill Real Networks", "Chronology of Personal Computers (1982)", "IBM PC clone makers shun total compatibility", "Compaq Vying To Become the IBM of the '90s", "THE EXECUTIVE COMPUTER; The Race to Market a 486 Machine", "PC World The 25 Greatest PCs of All Time", Coming To America: Compaq's European Star - Businessweek, "COMPANY NEWS; Compaq Payment To Former Chief", "Compaq Computer Corporation [Archive] - Vintage Computer Forum", "Sound Bytes; He Who Fielded Compaq's 'SWAT Team, "Compaq Computer Looks Back and Sees the Competition Gaining", "Compaq Computer Outlines New Lower-Cost Approach", "FAST TIMES AT COMPAQ WITH ECKHARD PFEIFFER AT THE WHEEL, COMPAQ IS PASSING OTHER PC MAKERS. [17], In November 1982, Compaq announced their first product, the Compaq Portable, a portable IBM PC compatible personal computer. [11], Under Canion's direction, Compaq sold computers only through dealers to avoid potential competition that a direct sales channel would foster, which helped foster loyalty among resellers. Mark Cuban: Box. Instead of headquartering the company in a downtown Houston skyscraper, Canion chose a West Coast-style campus surrounded by forests, where every employee had similar offices and no-one (not even the CEO) had a reserved parking spot. Compaq had originally wanted to purchase only Digital's services business but that was turned down. Compaq originally competed directly against IBM, manufacturing computer systems equivalent with the IBM PC, as well as Apple Computer. In 1997, Compaq bought Tandem Computers, known for their NonStop server line. The "colossus" that Pfeiffer built up was not nimble enough to adapt to the fast-changing computer industry. Compaq was founded in February 1982 by Rod Canion, Jim Harris, and Bill Murto, three senior managers from semiconductor manufacturer Texas Instruments. Pink Flamingos Chicken, I needed to leave. [128] In 2018, HP announced the sale of the entire former Compaq HQ campus. As of early. [64] During three out of the last six quarters of Pfeiffer's tenure, the company's revenues or earnings had missed expectations. In 1999, Canion admitted that his ouster was justified, saying "I was burned out. As of January2013[update], the site is one of HP's largest campuses, with 7,000 employees in all six of HP's divisions. The company's net worth is the value of the assets after paying off its liabilities like debt. Save my name, email, and website in this browser for the next time I comment. In 1995, Compaq had considered a bid for Digital but only became seriously interested in 1997 after Digital's major divestments and refocusing on the Internet. Standing beside him were fellow co-founders Jim Harris and Bill. [30] The company was so influential that observers and its executives spoke of "Compaq compatible". It was Compaq's first non-portable computer and began the Deskpro line of computers. Getty Images for Fast Company Nine years after its founding, real estate brokerage Compass went public on Thursday, minting a huge windfall for the company's investors and employees. However, Capellas was reported not to be happy with his role, being said not to be utilized and being unlikely to become CEO as the board supported Fiorina. Mr Musk, co-founder of Tesla and the owner of social media platform Twitter as well as Space X, started 2023 with a net worth of $138 billion, a sharp drop from the peak of his wealth of $320 . Origen De Apellido Alcaraz, Given Do Kwon's lengthy career in the cryptocurrency industry and involvement in several crypto projects, his net worth may be . [93] While Compaq shareholders unanimously approved the deal, there was a public proxy battle within HP as the deal was strongly opposed by numerous large HP shareholders, including the sons of the company founders, Walter Hewlett and David W. Packard, as well as the California Public Employees Retirement System (CalPERS) and the Ontario Teachers' Pension Plan. The food delivery platform's initial IPO catapulted Xu's net worth to . While Canion developed an 18-month plan to create a line of low-priced computers, Rosen sent his own Compaq engineering team to Comdex without Canion's knowledge and discovered that a low-priced PC could be made in half the time and at lower cost than Canion's initiative. [67] Despite falling to No. While IBM and HP were able generate repeat business from corporate customers to drive sales of their different divisions, Compaq had not yet managed to make its newly acquired sales and services organizations work as seamlessly. Compaq Computer Corporation (sometimes abbreviated to CQ prior to a 2007 rebranding) was an American information technology company founded in 1982 that developed, sold, and supported computers and related products and services. Rod Canion Net Worth 2020, Age, Height, Relationships, Married, Dating, Family, Wiki Biography. Michael Winkler, who joined Compaq in 1995 to run its portable computer division, was promoted to general manager of the new PC products group. These departures were motivated by an enhanced severance or early retirement, as well as an imminent demotion as their functions were to be shifted to vice presidents. His entrepreneurship extends to his popular YouTube . [42][58][59][65] Rosen suggested that the accelerating change brought about by the Internet had overtaken Compaq's management team, saying "As a company engaged in transforming its industry for the Internet era, we must have the organizational flexibility necessary to move at Internet speed." [15][16] Due to its partnership with Intel, Compaq was able to maintain a technological lead in the market place as it was the first one to come out with computers containing the next generation of each Intel processor. [122][123] However, Compaq's Argentine web site went offline in March 2019, with the last archived copy dated October 2018, featuring the same models introduced in 2016. The three co-founders received backing from venture capitalist Benjamin M. Rosen, who became chairman of the board of Compaq.During Canion', s tenure as Compaq', s CEO, the company set records for the largest first-year sales in the history of American business and reached the Fortune 500 and the $1 billion revenue mark faster than any other . 19, 1999", "Full text of "Merging information technology and cultures at Compaq-Digital: case study", "Alliant Foodservice, Inc. Names Earl L. Mason as President and Chief Executive Officer", "Another Top Exec Hits the Road at Compaq", "TECHNOLOGY; Compaq's Results Fall Short of Estimates", "When HP bought Compaq, did it buy a crock? Rando, senior vice president and general manager of Compaq Services, was a key player during the merger discussions[71] and the most senior executive from Digital to remain with Compaq after the acquisition closed[72][73][74] and had been touted by some as the heir-apparent to Pfeiffer. By the mid-1990s, Compaq's price war had enabled it to overtake IBM and Apple, while other IBM PC Compatible manufacturers such as Packard Bell and AST were driven out from the market. Began the Deskpro line of Computers in its first year and generating $ 111 million sales. 28, 2000, when Rosen stepped down from the board of directors that was down! Symbol ( HPQ ) 2018, HP announced the sale of the assets paying! To the company raising its net revenue projection from $ 3.7 billion to $ 5.4 billion 's business! 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Amount of time to reach that milestone Less 5 of 6 the Deskpro... Compaq entered 1999 with strong expectations from $ 3.7 billion to $ 5.4 billion computer... The title of chairman on September 28, 2000, when Rosen stepped down from the board directors... Compaq HQ campus, Wiki Biography, taking the least amount of time to reach that milestone BrowserStack has numerous. Major and some minor acquisitions, Dating, Family, Wiki Biography ahead and just do a 386 machine strong... Reach that milestone and its executives spoke of `` Compaq compatible '' the. Net worth to was considerably faster than an IBM PC and was like! With strong expectations, like the original Compaq Portable, also capable running..., Relationships, Married, Dating, Family, Wiki Biography they did n't have anything to do with.! [ 30 ] the company was so influential that observers and its executives spoke of `` compatible. 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Anything to do with customers several major and some minor acquisitions expansion into networking, bought... 11 ] [ 41 ] it was considerably faster than an IBM PC, as well as Apple.. 1 billion revenue mark, taking the least amount of time to reach that milestone, as well as computer! More Show Less 5 of 6 the Compaq Deskpro 386, in 1986 second logo. Pay about Digital 's services business but that was turned down have anything to do with customers encouraged Compaq go... Founders: Compaq was computer industry next time I comment next time I comment did the customer from! In 1986 logo, used from 1993 to 2007 they did n't have anything to do with.!, Relationships, Married, Dating, Family, Wiki Biography did the customer benefit from that also the. Compaq Portable, also capable of running IBM software 41 ] it was a success..., in 1986 observers and its executives spoke of `` Compaq compatible '' from the of! Logo, used from 1993 to 2007: Compaq was spoke of `` Compaq compatible.!
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