Finance History | 367 Addison Avenue — Five Hundred Thirty-Eight Dollars and a Coin Toss
· 1939-1
Unreviewed contributionBy kevin · · updated · Report an issue
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Finance History | 367 Addison Avenue — Five Hundred Thirty-Eight Dollars and a Coin Toss
kevin
People treat Hewlett Packard Enterprise and HP Inc. as two separate boxes on an index card.
They begin as one partnership in this garage.
In 1938 David Packard and Lucile Packard rented the first-floor flat at 367 Addison Avenue in Palo Alto.
William Hewlett took the shed behind the house.
The two men worked part time in the twelve-by-eighteen-foot garage with 538 dollars in working capital: cash and a used Sears-Roebuck drill press.
On 1 January 1939 they formalized the partnership.
A coin toss put Hewlett's name first.
The first product was the Model 200A audio oscillator, priced at 54.40 dollars in 1939.
Comparable instruments then sold for 200 to 600 dollars.
Walt Disney Studios ordered eight modified Model 200B units to test sound channels for Fantasia.
The garage is California Historical Landmark No. 976 and sits on the National Register of Historic Places.
It is not open as an interior museum.
The sidewalk and the driveway are the public view, in a residential street that still asks visitors to stay off the porch.
The mechanism is a cheaper oscillator, built with a light bulb as a variable resistor, sold from a rented shed.
The later split of the company left both successor names on the S&P 500.
The rooms that produced the first invoices remain on Addison Avenue.
Photo: BrokenSphere, CC BY-SA 3.0, via Wikimedia Commons.
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