In 1982 Mitchell Kapor, previously head of development at Visicorp, and Jonathan Sachs, with backing from Ben Rosen, founded Lotus Development Corporation in Cambridge, Massachusetts. Kapor, who had been a teacher of Transcendental Meditation, named the company after 'The Lotus Position' or "Padmasana.''
On January 26, 1983 Lotus Development Corporation released Lotus 1-2-3. An integrated spreadsheet, graphics package, and database manager, it became the first "killer app" for the PC. In 1983 sales of 1-2-3 reached $54,000,000, making Lotus the largest independent software vendor in the world at that time.