IKEA is founded

Even as a young boy, Ingvar Kamprad knows he wants to develop a business. He takes his first step to becoming a businessman at age 5 when he decides to sell matches. From there he moves on to selling Christmas cards, seeds and pens to neighbours on his bike. At the age of 17 he set up a company. He names it IKEA: an abbreviation of Ingvar Kamprad from Elmtaryd (the family farm), Agunnaryd (the local parish).