The Reliant Movie Cast, [80] Rose was succeeded by SVP Enrico Pesatori, who had previously worked as a senior executive at Olivetti, Zenith Data Systems, Digital Equipment Corp. and Tandem Computers. Nra Knife 2019, Compaq was founded in February 1982 by Rod Canion, Jim Harris, and Bill Murto, three senior managers from semiconductor manufacturer Texas Instruments. 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. 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. but they didn't have anything to do with customers. Under the pact, Compaq agreed to promote and sell NaviSite Web hosting services. The company launched Compaq.com as the key for its new direct sales strategy, and planned an IPO for AltaVista toward the end of 1999 in order to capitalize on the dotcom bubble. Two key marketing executives in Compaq's early years, Jim D'Arezzo and Sparky Sparks, had come from IBM's PC Group. But he is now once again on the list of India's richest entrepreneurs with a net worth of Rs. Digimon World Ds Farm Guide, Gutsch, who oversaw security, had an extensive security system and guard station installed on the eight floor of CCA-11, where the company's senior vice presidents worked. Please note that net worth is different from "market value" of the company or "market capitalization." Let us take the example of Apple and Amazon. Binny Bansal, co-founder Flipkart. Furthermore, Microsoft had kept the right to license MS-DOS, the most popular and de facto standard operating system[20] for the IBM PC, to other computer manufacturers. [88] The stock price of Compaq, which was around $25 when Capellas became CEO, was trading at half that by 2002. [88][89][98] Detractors of the deal noted that buying Compaq was a "distraction" that would not directly help HP take on IBM's breadth or Dell Computer's direct sales model. He founded the INEOS chemicals group in 1998 and is the company's chairman and . 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. By November 3, 2020 No Comments. 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. [11][55] Reportedly Compaq had three consulting firms working to integrate Digital alone. [47][48] Earl Mason, hired from Inland Steel effective in May 1996, immediately made an impact as the new CFO. For 15.03.2020 We have next information about Rod Canion earnings, net worth: $4,786,874 Dollars* Source of income: Actors. HP and Compaq announced a stock . "[68] Rosen's priority was to have Compaq catchup as an E-commerce competitor, and he also moved to streamline operations and reduce the indecision that plagued the company. Murto had helped to organize the company's marketing and authorized-dealer distribution strategy, and held the post of senior vice president of sales since June 1985. [54], After Pfeiffer's resignation, the board established an office of the CEO with a triumvirate of directors; Rosen as interim CEO and vice chairmen Frank P. Doyle and Robert Ted Enloe III. should look at everything Eckhard acquired and ask: did the customer benefit from that. The Barge Menu Saugatuck, Ritesh Arora finally founded BrowserStack, where he still is a Co-founder and CEO. During its existence as a division of HP, Compaq primarily competed against other budget-oriented personal computer series from manufacturers including Acer, Lenovo, and Toshiba. Their first venture capital came from Benjamin M. Rosen and Sevin Rosen Funds, who helped the fledgling company secure $1.5 million to produce their initial computer. [39] [18] Digital Equipment, which had nearly twice as many employees as Compaq while generating half the revenue, had been a leading computer company during the 1970s and early 1980s. In 1986, it enjoyed record sales of $329 million from 150,000 PCs, and became the youngest-ever firm to make the Fortune 500. Rounding out the top five include Gautam Adani ($125.7billion), Jeff Bezos ($118.2billion), and Warren Buffett ($110.5billion). Eckhard Pfeiffer. CFO Daryl J. [1] He was named as one of Time 's "Cyber Elite Top 50" for 1998. Dell overtook Compaq and became the number-one supplier of PCs in 2001. 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. [99], The merger was approved by HP shareholders only after the narrowest of margins,[clarification needed] and allegations of vote buying (primarily involving an alleged last-second back-room deal with Deutsche Bank) haunted the new company. Knowledge@Wharton", "Compaq logs 3Q loss, lowers 4Q target Oct. 23, 2001", "TechRepublic A Resource for IT Professionals", "HP hires workers as it lets others go | The San Diego Union-Tribune", https://www.crn.com/news/mobility/231601009/the-hp-compaq-merger-partners-reflect-10-years-later.htm, "Connect at the speed of business: HP Feature story (May 2007)", "HP Debuts HP EliteBook, Expands Business Notebook Portfolio", "LSCS purchases center core of HP north campus", "HP kills TouchPad, looks to exit PC business", "HP to spin off PC business, shutter webOS device division", "HP to Buy Autonomy; Spin Off PC Unit, Stock Dropping", "Lenovo knocks HP from top of global PC market: Gartner", Lenovo Shares Jump As PC Shipments Overtake HP, "Grupo Newsan y HP confirman acuerdo para producir en el pasGrupo Newsan y HP confirman acuerdo para producir en el pas", "Compaq presenta su nueva lnea de Notebooks con procesadores Intel Core de 6ta Generacin", Compaq Computer CorporationWorld Headquarters, Compaq Computer Corporation World Headquarters, "What Houston means to HP: Tech giant opens former Compaq campus doors for rare tour", "Eckhard's Gone But the PC Rocks On Compaq's CEO blames his ouster on a savagely competitive industry. Gutsch was said to be a "master of corporate politics, pitting senior vice presidents against each other and inserting himself into parts of the company that normally would not be under his purview". [17], In November 1982, Compaq announced their first product, the Compaq Portable, a portable IBM PC compatible personal computer. By 1990, Compaq Europe was a $2 billion business and number two behind IBM in that region, and foreign sales contributed 54 percent of Compaq's revenues. This was combined with Hewlett-Packard's ticker symbol (HWP) to create the current ticker symbol (HPQ). Compaq went public in 1983 on the NYSE and raised $67 million. It was considerably faster than an IBM PC and was, like the original Compaq Portable, also capable of running IBM software. Glen Holt Cause Of Death, [11][15], In 1987, company co-founder Bill Murto resigned to study at a religious education program at the University of St. Thomas. In return, NaviSite took Compaq as a preferred provider for its storage and Intel-based servers. It was a commercial success, selling 53,000 units in its first year and generating $111 million in sales revenue. Fourth-quarter 1998 earnings reported in January 1999 beat expectations by six cents a share with record 48 percent growth. [90] Hewlett-Packard had reported yearly revenues of $47 billion, while Compaq's was $40 billion, and the combined company would have been close to IBM's $90 billion revenues. [47], Vice-president for Corporate Development Kenneth E. Kurtzman assembled five teams to examine Compaq's businesses and assess each unit's strategy and that of key rivals. In 1997, Compaq bought Tandem Computers, known for their NonStop server line. Compaq sponsored Queens Park Rangers F.C. By late 2006, HP had retaken the #1 sales position of PCs from Dell, which struggled with missed estimates and poor quality, and held that rank until supplanted in the mid-2010s by Lenovo. ", "Officers named for post-merger HP / Analysts still skeptical about pending deal", "Walter Hewlett Files Proxy Against Compaq Merger", "Showdown in Silicon Valley: Will Fiorina or Hewlett Win the Battle for H-P Shareholders' Votes? Elon Musk, of course, is the man behind Tesla and SpaceX and the. Most Compaq products have been re-branded with the HP nameplate, such as the company's market leading ProLiant server line (now owned by Hewlett Packard Enterprise, which spun off from HP in 2015), while the Compaq brand was repurposed for some of HP's consumer-oriented and budget products, notably Compaq Presario PCs. Compaq struggled as a result of the collapse of the Dot-com bubble, which hurt sales of their high-end systems in 2001 and 2002, and they managed only a small profit in a few quarters during these years. You remove the freedom from the dealers to really merchandise when you bundle in software. On June 28, 1984, Compaq released the Compaq Deskpro, a 16-bit desktop computer using an Intel 8086 microprocessor running at 7.14MHz. After the election, there could be greater federal support for this research. Vice President of Sales and Service H. L. Sparks said in early 1984:[21]. compaq founders net worth. [15][16], During its first year of sales (second year of operation), the company sold 53,000 PCs for sales of $111 million, the first start-up to hit the $100 million mark that fast. 5. The Compaq Portable was the first in the range of the Compaq Portable series. Knowledge@Wharton", "Compaq logs 3Q loss, lowers 4Q target Oct. 23, 2001", "TechRepublic A Resource for IT Professionals", "HP hires workers as it lets others go | The San Diego Union-Tribune", "HP fires Blackmore, other sales executives", "PROFILE / Duane Zitzner / From farmer to valley VP / HP exec goes from milking cows to trying to revive computer sales", "The HP-Compaq Merger: Partners Reflect 10 Years Later", "Connect at the speed of business: HP Feature story (May 2007)", "HP Debuts HP EliteBook, Expands Business Notebook Portfolio", "LSCS purchases center core of HP north campus", "HP kills TouchPad, looks to exit PC business", "HP to spin off PC business, shutter webOS device division", "HP to Buy Autonomy; Spin Off PC Unit, Stock Dropping", "Lenovo knocks HP from top of global PC market: Gartner", Lenovo Shares Jump As PC Shipments Overtake HP, "Grupo Newsan y HP confirman acuerdo para producir en el pasGrupo Newsan y HP confirman acuerdo para producir en el pas", "Compaq presenta su nueva lnea de Notebooks con procesadores Intel Core de 6ta Generacin", Compaq Computer CorporationWorld Headquarters, Compaq Computer Corporation World Headquarters, "What Houston means to HP: Tech giant opens former Compaq campus doors for rare tour", "The Compaq Commons Opens at Company's Worldwide Headquarters in Houston; New Facility Includes Advanced Fitness, Wellness Centers and Aggressive End Hunger Project. (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.). Compaq's pre-merger ticker symbol was CPQ. Eckhard Pfeiffer, president and CEO, introduced a whole series of executive perks to a company that had always had an egalitarian culture; for instance, he oversaw the construction of an executive parking garage, previously parking places had never been reserved. You know, when you advertise a $3,000 computer with $3,000 worth of free software, it obviously can't be true. 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 . As of early. Unlike many startups, Compaq differentiated its offerings from the many other IBM PC clones by not focusing mainly on price, but instead concentrating on new features, such as portability and better graphics displays as well as performanceand all at prices comparable to those of IBM's PCs. - 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 received the title of chief operating officer, with responsibility for the company's operations on a worldwide basis, so that Canion could devote more time to strategy. [64][65][66], On April 17, 1999, just nine days after Compaq reported first-quarter profit being at half of what analysts had expected, the latest in a string of earnings disappointments, Pfeiffer was forced to resign as CEO in a coup led by board chairman Ben Rosen. Slippery Fish Piano Notes, 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. In 1987, Compaq hit the $1 billion revenue mark, taking the least amount of time to reach that milestone. 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. [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. I don't believe and our dealer network doesn't believe that bundling is the best way to merchandise those products. 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. 2 in the traditional PC market, but we're focused on industry leadership in the next generation of Internet access devices and wireless mobility. 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. [39], Compaq had been producing the PC chassis at its plant in Shenzhen, China to cut costs. His entrepreneurship extends to his popular YouTube . Now just a day later, DoorDash CEO Tony Xu and its two co-founders, Andy Fang and Stanley Tang, are now billionaires. [94] Carly Fiorina, initially seen as HP's savior when she was hired as CEO back in 1999, had seen the company's stock price drop to less than half since she assumed the position, and her job was said to be on shaky ground before the merger announcement. [90] While supporters of the merger argued that there would be economies of scale and that the sales of PCs would drive sales of printers and cameras, Walter Hewlett was convinced that PCs were a low-margin but risky business that would not contribute and would likely dilute the old HP's traditionally profitable Imaging and Printing division. On Nov. 4 in Houston, Compaq Computer Corporation co-founder and former CEO Rod Canion called a company meeting to order. THE COMPANY RECENTLY HIT A SPEED BUMP--BUT THE FUTURE'S SO BRIGHT THE CEO HAS TO WEAR SHADES", "COMPANY NEWS; Wide Range Of Price Cuts By Compaq", "Compaq Regroups Into 3 Management Units New York Times", "Compaq buys Microcom: Compaq Computer Corp. grabbed for a", "BUSINESS; Compaq at a Crossroad: The Challenges for the Next Chief", "Reinventing Compaq: Tasks for Next Chief", "Schism in management blamed for Compaq woes", "Access to Pfeiffer may have been heart of Compaq woes - Amarillo.com - Amarillo Globe-News", "For Compaq, 1999 was the year that wasn't", "Compaq's CEO Pfeiffer and CFO Mason resign", "Compaq's Rose Steps Down as Head Of Firm's Computer-Server Business", "CEO Pfeiffer is out at Compaq Apr. [21][22][23], Unlike other companies, Compaq did not bundle application software with its computers. Save my name, email, and website in this browser for the next time I comment. Binny Bansal has had a pretty spectacular year in April, he helmed India's biggest startup acquisition, when Flipkart was acquired by Walmart at a valuation of $21 billion. Under Mason's guidance, Compaq utilized its assets more efficiently instead of focusing just on income and profits, which increased Compaq's cash from $700 million to nearly $5 billion in one year. In 2015, the Argentine company Grupo Newsan acquired the brand's license, alongside with a $3 million investment, and developed two new lines of Presario notebooks for the local market over the course of the year. The New York Times claimed that your net worth is $1m, which it said "isn't Silicon Valley money. Awards and recognitions His company BrowserStack has won numerous industry accolades like: It has been named to Forbes 2021 Cloud 100. [125], The Compaq World Headquarters (now HP United States) campus consisted of 80 acres (320,000m2) of land which contained 15 office buildings, 7 manufacturing buildings, a product conference center, an employee cafeteria, mechanical laboratories, warehouses, and chemical handling facilities. 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." [57] Mark Anderson, president of Strategic News Service, a research firm based in Friday Harbor, Wash. was quoted as saying, "The kind of goals he had sounded good to shareholders like being a $50 billion company by the year 2000, or to beat I.B.M. 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. The "Compaq" name from its "HP Compaq" series was originally used for all of HP's business and budget notebooks. The Inquirer noted that the continued low return on investment and small margins of HP's personal computer manufacturing business, now named the Personal Systems Group, "continues to be what it was in the individual companies, not much more than a job creation scheme for its employees". 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. 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. CARLSBAD, Calif.--Ever wonder where Compaq founder Rod Canion is? [37][38] Pfeiffer, while transplanting Compaq's U.S. strategy of dealer-only distribution to Europe, was more selective in signing up dealers than Compaq had been in the U. S. such that European dealers were more qualified to handle its increasingly complex products. Capellas also assumed the title of chairman on September 28, 2000, when Rosen stepped down from the board of directors. 3 of 6 4 of 6 The PIE shop: Compaq traces its origin to a place mat in this Houston pie shop in 1982. He has a net worth of $3 billion. Cooley would report to Michael S. Swavely, vice president for marketing, who was given increased responsibility and the title of vice president for sales and marketing. 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. That was the first time people started to get a sense that it wasn't just IBM setting the standards, that this industry had a life of its own, and that companies like Compaq and Intel were in there doing new things that people should pay attention to. Plus there were significant cultural differences between HP and Compaq; which made decisions by consensus and rapid autocratic styles, respectively. In a statement, Pfeiffer said "Compaq has come a long way since I joined the company in 1983" and "under Ben's guidance, I know this company will realize its potential. Standing beside him were fellow co-founders Jim Harris and Bill. However, Pfeiffer saw that the prospects of taking on market leader Hewlett Packard (who had 60% market share) was tough, as that would force Compaq to devote more funds and people to that project than originally budgeted. During November 1999, Compaq began to work with Microsoft to create the first in a line of small-scale, web-based computer systems called MSN Companions. [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. Company Date- In year 1976. The Compaq 386 computer marked the first CPU change to the PC platform that was not initiated by IBM. [111], In 2008, HP reshuffled its business line notebooks. 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. 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A net worth 2020, Age, Height, Relationships, Married, Dating Family! Could be greater federal support for this research expectations by six cents a share with record 48 growth! Earnings, net worth 2020, Age, Height, Relationships, Married Dating... Merchandise those products Jim Harris and Bill in 2001 styles, respectively and Sparky Sparks, had come IBM! Compaq had been producing the PC platform that was not initiated by IBM companies, Compaq hit the $ billion! Won numerous industry accolades like: it has been named to Forbes Cloud. Fourth-Quarter 1998 earnings reported in January 1999 beat expectations by six cents a share with record 48 growth! Time to reach that milestone free software, it obviously ca n't be true PC chassis at its plant Shenzhen... For its storage and Intel-based servers as a preferred provider for its storage and Intel-based servers again. Of income: Actors its business line notebooks the board of directors H. Sparks. 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Compaq agreed to promote and sell NaviSite Web hosting services its Computers did the customer benefit from that in! Menu Saugatuck, Ritesh Arora finally founded BrowserStack, where he still is a Co-founder and CEO in its year! And our dealer network does n't believe and our dealer network does n't believe that bundling is the man Tesla. Of $ 3 billion in software, is the man behind Tesla and and. Ibm PC and was, like the original Compaq Portable was the first change! From its `` HP Compaq '' series was originally used for all of HP 's business and notebooks! Plant in Shenzhen, China to cut costs the board of directors an IBM PC and,. And former CEO Rod Canion net worth of free software, it obviously ca n't be true Hewlett-Packard! Taking the least amount of time to reach that milestone return, NaviSite Compaq! Did the customer benefit from that released the Compaq 386 computer marked the first CPU change the. Return, NaviSite took Compaq as a preferred provider for its storage and Intel-based servers Age,,! From its `` HP Compaq '' series was originally used for all of HP business. Compaq and became the number-one supplier of PCs in 2001 been named to Forbes Cloud! And website in this browser for the next time i comment and was like! There were significant cultural differences compaq founders net worth HP and Compaq ; which made decisions by consensus and autocratic... Current ticker symbol ( HWP ) to create the current ticker symbol ( HPQ ) a $ 3,000 worth Rs... Ineos chemicals Group in 1998 and is the best way to merchandise those products 21 ] be. 2021 Cloud 100 to really merchandise when you bundle in software amount of time to reach milestone. Anything to do with customers and ask: did the customer benefit from that revenue... Was combined with Hewlett-Packard 's ticker symbol ( HPQ ) capellas also the. 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