TiVo was founded in 1997 by Michael Ramsay and James Barton to revolutionize the consumer electronics market. TiVo is a digital video recorder that allows users to pause, rewind and fast forward live TV, record multiple shows simultaneously, and skip commercials. It provides additional features like recording season passes of shows, wish list searches to record related programs, and online scheduling from anywhere. TiVo units range in price from $150 for basic service to $300 for high definition and require a $13 monthly subscription fee.