SanDisk was founded in 1988 by Eli Harari, Sanjay Mehrotra, and Jack Yuan, incorporated at the time as SanDisk. SanDisk co-founder Eli Harari developed the Floating Gate EEPROM which proved the practicality, reliability, and endurance of semiconductor-based data storage. In 1991 SanDisk produced the first flash-based SSD in a 2.5-inch hard disk drive form factor for IBM with a 20 MB capacity priced at about $1000. On May 10, 2000, the Toshiba Corporation of Japan and the SanDisk Corporation said that they would jointly form a new semiconductor company to produce advanced flash memory, primarily for digital cameras.