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When Compaq’s first product hit the market in late 1982, the company’s technical staff already averaged 15 years of experience.
This would not be Compaq’s only business record. It reached the list of Fortune 500 companies (1986) faster than any organization before—less than four years after its founding.
He was replaced by Compaq’s longtime European sales and marketing leader, Eckhard Pfeiffer, who had been made chief operating officer and heir apparent after the 1990 retirement of Bill Murto, another cofounder.
By 1992 the company was profitable again.
The company expanded its listing by convincing businesses to pay for inclusion, and, after about a year, in early 1996, Mohr Davidow Ventures agreed to invest some $3 million in Zip2 in exchange for majority ownership.
In 1999 Compaq Computer Corp. purchased Zip2 for $307 million, and Zip2 became a unit of the search engine AltaVista, which Compaq had recently acquired.
Following a disastrous first financial quarter in 1999, Pfeiffer lost his job.
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