Jack Tramiel starts Commodore
Tramiel had already been running a small business repairing typewriters while living in New York and driving a taxicab. In 1954 he signed a contract with a Czechoslovakian company to manufacture their designs in Canada, and moved to Toronto to start production.
In 1962 the company was formally incorporated as Commodore Business Machines (CBM).
The company later made calculators, and when the designer told Tramiel that calculators were a dead end, and computers were the future - Jack Tramiel told him to build one and prove the point. Chuck Peddle, the designer, presented the Commodore PET.
Commodore went on to develop the world's best-selling home computer, the Commodore 64.
The company declared bankruptcy in 1994.