Mark Cuban Biography - Profile
Biography : Billionaire Internet
Entrepreneur and professional basketball
Famous for :
Owning the Dallas Mavericks NBA basketball
team, and for selling his Broadcast.com
site to Yahoo! for more than $2 billion
: Born - July 31, 1958 USA
Lives - United States of America
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Biography - Information
Cuban is the outspoken
owner of the the Dallas Mavericks basketball
team, billionaire internet entrepreneur,
and chairman of the high-definition television
Mark Cuban was born on the 31st of July,
1958 in Pittsburgh, Pennsylvania, USA. From
an early age Cuban had an entrepreneurial
ambition to succeed, which may have been
influenced by his family's working class
upbringing. At the age of just twelve, the
young entrepreneur was selling garbage bags
to buy an expensive pair of shoes that his
father's car upholstering wage could not
(or would not) pay for.
Cuban continued his entrepreneurial ways
and did several jobs while at school and
university. He graduated with a business
degree from the Indiana University in 1981,
before moving to Dallas and starting a computer
consulting company called MicroSolutions.
MicroSolutions made Cuban a millionaire
when he sold the company to Compuserve for
$6 million in 1990.
His next major venture was with the Internet
broadcasting company Broadcast.com. He and
his university friend Todd Wagner saw Broadcast.com
become a company with more than 300 employees
and almost $100 million in annual revenue.
In 1998 the company set a one record for
an IPO (Initial Public Offering) by increasing
nearly 250%, from $18 per share to $62.75
With the dot com crash looming, Cuban sold
Broadcast.com to Yahoo! in 1999 for $5.04
billion worth of stock. This made the founders
Todd Wagner and Mark Cuban instant billionaires
(on paper at least). The services offered
by Broadcast.com became Yahoo! Broadcast
Solutions and eventually split into other
services of Yahoo!. The url of broadcast.com
now redirects to the Yahoo homepage, with
no semblance of the company that was once
worth $5.04 billion to the company.
The president of Yahoo! at the time, Jeff
Mallett said "Broadcast.com is a
pure-play growth acquisition rather than
an integration of services."
Mark Cuban was fortunate enough to have
diversified much of his stock holdings before
the Dot Com crash of 2000 ate away at much
of his new found fortune.
In 2000 Cuban bought the NBA basketball
team, the Dallas Mavericks for $285 million.
The former owner (Ross Perot, Jr.) had stated
that the Dallas Mavericks was not for sale,
but eventually gave into Cuban because of
his persuasiveness and obvious passion for
the team. On the NBA press release, Perot
was quoted as saying "Mark is a
very good salesman. Mark would not give
up and I think I told him 'no' for about
six months. I saw in Mark what I felt this
organization needed. I saw his enthusiasm
and his passion for the game as well as
his passion for the Dallas Mavericks. Mark
is a longtime fan, and I felt that is what
Cuban continues to be an active investor
and supporter of the Internet, media, and
technology industry. He is also the chairman
and owner of the high definition television
Mark Cuban married Tiffany Stewart in 2002.
The couple had a daughter together in 2004.
The outspoken billionaire publishes his
own blog at BlogMaverick.com where he speaks
freely about basketball, technology, business,
and the Internet
"You see, the thing about a blog
is that its a great place to write about
things you are interested in. Its a great
place to generate discussion."
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Mark Cuban Quotes
In business, one of the challenges is
making sure that your product is the easiest
to experience and complete a sale.
Cuban - Products
It doesnt matter how many times
you fail. It doesnt matter how many
times you almost get it right. No one
is going to know or care about your failures,
and neither should you. All you have to
do is learn from them and those around
you because... All that matters in business
is that you get it right once. Then everyone
can tell you how lucky you are.
Cuban - Business
more Mark Cuban quotes
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