12/f/sydney
14-04-2007, 08:58 PM
http://en.wikipedia.org/wiki/Mark_Cuban
In July 1990, Cuban sold MicroSolutions to Compuserve (http://en.wikipedia.org/wiki/Compuserve)—then a subsidiary of H&R Block (http://en.wikipedia.org/wiki/H%26R_Block)—for $6 million.[14] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-7) "After taxes, I walked away with about $2 million," Cuban said.[15] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-8)
Cuban and fellow Indiana University alum Todd Wagner (http://en.wikipedia.org/wiki/Todd_Wagner) still eagerly followed college basketball and were interested in the development of the early Internet (http://en.wikipedia.org/wiki/Internet). In 1995, Audionet was conceived with the idea of broadcasting live games and events through the Internet (http://en.wikipedia.org/wiki/Internet). With a single server and ISDN (http://en.wikipedia.org/wiki/ISDN) line,[16] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-9) Audionet became Broadcast.com (http://en.wikipedia.org/wiki/Broadcast.com) in 1998. By 1999, Broadcast.com had grown to 330 employees and annual revenues close to $100 million.[17] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-10) With the stock market in the midst of the Dot-com boom (http://en.wikipedia.org/wiki/Dot-com_boom), Broadcast.com was acquired by Yahoo! (http://en.wikipedia.org/wiki/Yahoo%21), and Cuban received about $5.04 billion in Yahoo! (http://en.wikipedia.org/wiki/Yahoo%21) stock.[18] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-11) After the sale, Cuban diversified his wealth to avoid exposure to a market crash.[19] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-12) The strategy proved successful when the dot-com bubble (http://en.wikipedia.org/wiki/Dot-com_bubble) ended, with stock prices rapidly falling, Cuban retained much more wealth than fellow dot-com entrepreneurs. As of 2006 (http://en.wikipedia.org/wiki/2006), Cuban is #428 on Forbes (http://en.wikipedia.org/wiki/Forbes)' "World's Richest People" list, with a net worth of $1.8 billion.[20] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-13)
In July 1990, Cuban sold MicroSolutions to Compuserve (http://en.wikipedia.org/wiki/Compuserve)—then a subsidiary of H&R Block (http://en.wikipedia.org/wiki/H%26R_Block)—for $6 million.[14] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-7) "After taxes, I walked away with about $2 million," Cuban said.[15] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-8)
Cuban and fellow Indiana University alum Todd Wagner (http://en.wikipedia.org/wiki/Todd_Wagner) still eagerly followed college basketball and were interested in the development of the early Internet (http://en.wikipedia.org/wiki/Internet). In 1995, Audionet was conceived with the idea of broadcasting live games and events through the Internet (http://en.wikipedia.org/wiki/Internet). With a single server and ISDN (http://en.wikipedia.org/wiki/ISDN) line,[16] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-9) Audionet became Broadcast.com (http://en.wikipedia.org/wiki/Broadcast.com) in 1998. By 1999, Broadcast.com had grown to 330 employees and annual revenues close to $100 million.[17] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-10) With the stock market in the midst of the Dot-com boom (http://en.wikipedia.org/wiki/Dot-com_boom), Broadcast.com was acquired by Yahoo! (http://en.wikipedia.org/wiki/Yahoo%21), and Cuban received about $5.04 billion in Yahoo! (http://en.wikipedia.org/wiki/Yahoo%21) stock.[18] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-11) After the sale, Cuban diversified his wealth to avoid exposure to a market crash.[19] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-12) The strategy proved successful when the dot-com bubble (http://en.wikipedia.org/wiki/Dot-com_bubble) ended, with stock prices rapidly falling, Cuban retained much more wealth than fellow dot-com entrepreneurs. As of 2006 (http://en.wikipedia.org/wiki/2006), Cuban is #428 on Forbes (http://en.wikipedia.org/wiki/Forbes)' "World's Richest People" list, with a net worth of $1.8 billion.[20] (http://en.wikipedia.org/wiki/Mark_Cuban#_note-13)