The first of the American J-Class yachts built in 1930 in response to Sir Thomas Lipton's America's Cup Challenge was Enterprise, launched on 14 April 1930. Enterprise was eventually chosen as the America's Cup defender to meet the Lipton Challenge.

Owner/skipper Harold S. "Mike" Vanderbilt had Enterprise designed by W Starling Burgess and built by the Herreshoff yard in Bristol, Rhode Island. She was filled with the latest technical advancements including a hollow aluminum mast (with 80,000+ rivets) and a Park Avenue boom that allowed greater control over her huge mainsail. At 80ft (24.4m) LWL she was shortest of the four US J-Class Yachts.

Vanderbilt reportedly asked for government records of the wind conditions off Newport for the previous 20 years.
Shamrock was no match for Enterprise, Lipton lost once again 0-4.