AKRON—Goodyear was founded 125 years ago on Aug. 29, 1898. The company's first sale—for $25.80 in rubber tubes for medicine bottles—was recorded in December of that year. Today, Goodyear is the third largest tire maker in the world with tire sales in 2022 of $17.9 billion.
Here are some highlights and interesting facts from the company's history.
1898: Frank Seiberling borrows $3,500 from his brother-in-law Lucius Miles for the down payment needed to buy an abandoned strawboard factory on the banks of the Little Cuyahoga River in Akron, Ohio, founding The Goodyear Tire & Rubber Company. It is named in honor of Charles Goodyear, who discovered the rubber vulcanization process in 1839. Production of carriage tires, bicycle tires, horseshoe pads and rubber sundries begins on Nov. 21.