Oracle was founded in 1977 by Larry Ellison, Bob Miner, and Ed Oates. The company initially focused on developing a commercial relational database management system (RDBMS) based on the principles of Edgar F. Codd's relational model. Over the years, Oracle expanded its offerings to include a wide array of software, cloud services, and hardware technologies. It became a leader in the database market and has continuously adapted to the technological landscape, including moving towards cloud computing in the 2010s.