Theodore “Ted” Waitt Print

Theodore “Ted” Waitt, born January 18, 1963 in Iowa’s Sioux City, is the co-founder of Gateway, Inc. He and co-founder Mike Hammond established the company using a $10,000 loan that Ted Waitt got from his grandmother. Since Ted Waitt grew up in a family with a cattle business, they used cow-spotted boxes for their computer hardware deliveries. Gateway actually pioneered the idea of direct marketing. Although Ted Waitt majored in marketing at the University of Iowa, he eventually dropped out of school when he became intrigued and fascinated with the basics of computer retailing. He spent nine months at Century Systems where he met Mike Hammond. The rest, as they say, is history. Ted Waitt turned over Gateway’s day-to-day operations and the CEO title to Wayne Inouye in 2004. A year later, he tendered his resignation as chairman. With that move, Ted Waitt bid goodbye to the company he co-founded almost 20 years earlier

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