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Timeform started about 70 years ago by Phil Bull.
It has always been the form book of choice for the racing connosieur but a few years ago it go bought out by Betfair.
That's not really a problem but the biggest impact of their ratings and analysis is that it is available to view by thousands of Betfair customers. It is also available to view, free, for every race by bookmakers such as Ladbrokes.
You have to think about that for a while. Bookmakers promoting a form / ratings service? What do you think is going to happen to the prices of the hyped up runners?
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