It is only fair to say that VR-1000 created by small company AMPex was not the world’s first such machine, but the first mass-produced one. The demonstration took place in Chicago and was a success. One of the three machines produced was bought by CBS television company for $75,000. As is known, TV set is the invention of Russian scientist Vladimir Zvorykin. It is the same story with the videotape recorder. Abbreviation AMP in the company’s name stands for the initials of Russian inventor Alexander Matveyevich Ponyatov, former officer of the Russian army, while ending ex stands for excellence. It is even more interesting that the name of one of the company’ employees was Ray Dolby. Yes, the Ray Dolby who developed the famous Dolby Surround audio system used in all movie theaters today.
In 1956, AMPex demonstrated first videotape recorder