Stephen Worth of the ASIFA-Hollywood Animation Archive says:
Down on his luck, Ross Bagdasarian Sr. (aka "David Seville") bought a tape recorder capable of speeding up voices with his last $200. He quickly knocked out a Christmas demo titled "The Chipmunk Song" and took it to record executives Simon "Sy" Waronker, Theodore "Ted" Keep and Alvin "Al" Bennett at Liberty Records. The label was close to bankruptcy, but Bagdasarian convinced them that they might as well press Chipmunk singles with the leftover vinyl pucks and labels in their warehouse rather than just turn the unused stock over to the bank when the business went under. Production commenced and in just a few months leading up to Christmas of 1958, the record shot to the top of the charts, becoming one of the best selling singles of all time. Bagdasarian won two Grammy Awards, Liberty Records was saved from bankruptcy, and the Chipmunks became a household name with children all over the world.
