DuMont Laboratories was founded in 1931 by Dr. Allen B. DuMont with only $1,000, and a laboratory in his basement. He and his staff were responsible for many early technical innovations, including the first consumer all-electronic television receiver in 1938. Their most revolutionary contribution came when the team successfully extended the life of a cathode ray tube from 24 to 1000 hours, making television sets a practical product for consumers. The company's television receivers soon became the gold standard of the industry. In 1942, DuMont worked with the US Army in developing radar technology during World War II. This brought in $5 million for the company.