FoundingBill Hewlett and Dave Packard graduated in electrical
engineering from Stanford University in 1935. The company
originated in a garage in nearby Palo Alto during a fellowship they
had with a past professor, Frederick Terman at Stanford during the
Great Depression. Terman was considered a mentor to them in forming
Hewlett-Packard.[12] In 1939, Packard and Hewlett established
Hewlett-Packard (HP) in Packard’s garage with an initial capital
investment of US$538.[13] Hewlett and Packard tossed a coin to
decide whether the company they founded would be called
Hewlett-Packard or Packard-Hewlett14 Packard won the coin toss but named their
electronics manufacturing enterprise the “Hewlett-Packard Company”.
HP incorporated on August 18, 1947, and went public on November 6,
1957.
Of the many projects they worked on, their very first
financially successful product was a precision audio oscillator,
the Model HP200A. Their innovation was the
use of a small incandescent light bulb (known as a “pilot
light”
as a temperature
dependent resistor in a critical portion of the circuit, the
negative feedback loop which stabilized the amplitude of the output
sinusoidal waveform. This allowed them to sell the Model 200A for
$54.40 when competitors were selling less stable oscillators for
over $200. The Model 200 series of generators continued until at
least 1972 as the 200AB, still tube-based but improved in design
through the years.
One of the company’s earliest customers was The Walt Disney
Company, which bought eight Model 200B oscillators (at $71.50 each)
for use in certifying the Fantasound surround sound systems
installed in theaters for the movie Fantasia.