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It was designed by Micro Instrumentation and Telemetry Systems (MITS), a small electronics firm located in New Mexico, which named it the Altair 8800. The Altair was a very primitive machine about the size of a bread box; it contained 256 bytes (not kilobytes) of RAM, had no ROM, and its input and output devices consisted of rows of toggle switches and lights, respectively...
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It was also quite inexpensive - $395 in kit form. Sales of the Altair took off after an article about it appeared in the January, 1975 issue of Popular Electronics magazine.
Although add-on products for the Altair 8800 (such as memory boards and paper tape readers) gradually appeared over the next couple of years, it's questionable whether anyone ever did any useful work on this machine...
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