Using an $800 loan from his family, songwriter Berry Gordy Jr. founded Motown Records in 1959. The name Motown is a combination of the words "motor" and "town" and is a nickname for Motown's original home, Detroit. Motown would achieve its first pop success with Smokey Robinson and the Miracles' "Shop Around."
In 1959, Gordy purchased a former photography studio and transformed it into Motown's first studio and headquarters. The property, at 2648 W. Grand Blvd. in Detroit, was dubbed Hitsville USA and now houses the Motown Historical Museum.
By 1964, Motown had become the most successful independent record label in the world. It had 110 Top 10 hits between 1961 and 1971. Motown was home to such artists as Martha and the Vandellas, Diana Ross and the Supremes, the Temptations, Marvin Gaye, the Jackson 5 and Stevie Wonder.
In 1968, Gordy founded Motown Productions, a film and television production company. Its first feature film was the Academy Award-nominated "Lady Sings the Blues."
In June 1998, Gordy sold Motown Records to MCA for $61 million. The label was renamed Universal Motown Records after merging with Universal Records in 2005. Erykah Badu and Lindsay Lohan are among Universal Motown's artists.