On September 1, 1927, Lou Burroughs and Al Kahn began a small business servicing radio receivers in South Bend, Indiana. As a result of the Great Depression, the two found themselves insolvent to the extent of $5,000. They decided to move their business to audio products, and on June 1, 1930, they incorporated under the name "Electro-Voice".
Burroughs and Kahn perceived an opportunity to capitalize on what they perceived as the generally poor quality and high prices of existing microphones. They purchased a lathe and a drill and started producing about one microphone a week. Soon after, Burroughs withdrew from the business, leaving complete ownership to Kahn. By 1933, the previous business debts were completely paid off, and Electro-Voice began hiring employees to help in the production of the products. In 1936, twenty people were hired, and Lou Burroughs returned as chief engineer.
Today EV manufactures widely used broadcast microphones as well as loudspeakers and various other professional audio equipment.