What Does 'WD-40' Stand For?

Does the name of the iconic household product WD-40 reveal something about its invention?
The lubricating spray WD-40 is so named because it was the product of the 40th attempt at creating a water displacing substance.

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WD-40 features an 8 flexible straw that bends and keeps its shape to easily apply it into hard-to-reach spaces. Multipurpose formula provides

WD-40 EZ-REACH, Original WD-40 Formula, Multi-Purpose Lubricant Spray with 8 in. Flexible Straw, 14.4 oz.

What Does WD-40 Stand For, And What's In It?