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the grade it's creator received in compilers.
http://en.wikipedia.org/wiki/C_%28programming_language%29#Early_developments
Back in the 50s, ALGOL was developed as a replacement to Fortran, which influenced CPL -> BCPL -> B -> C
I wish i had a more formal source...
It's so sad when people rely solely on Wikipedia for information. That's the story you commonly hear now, and it's become pretty widely accepted because once they became more well-known, they didn't want to admit that they had ever gotten such a low grade in a class.
Your comment doesn't discuss how "C" obtained its name, boxxertrumps. You see, the joke was that Ritchie was always jealous of Thompson's higher grade, so he purposefully named the language after his lower grade to prove he was not, indeed, jealous.
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