Mark Cuban is one of the exceptionally successful American entrepreneur who has net worth of $2.6 Billion according to the Forbes. Popularly known as “Shark Tank”, he lives a life that the most people envy. He founded his first company called Micro Solutions and sold it for $6 million to CompuServe in 1995. But this was the just a knack of his real success, there was a long way to go.
The very same year, Cuban started a new company, Audionet, which eventually turned into Broadcast.com. The main idea was based on the webcasting, to put live sporting events online for anyone to listen to. By 1999, Cuban grew the company to the team of over 300 employees and made $100 million in annual revenue during the dot com boom.
He ended up becoming a billionaire, when Yahoo picked Broadcast.com for $5.9 Billion just before the dot com crash. Whether you called it a plain luck or his prediction but he won the poker game of his life. Here is the complete success story of Mark Cuban:
Cuban’s Success Journey
Mark Cuban’s Early Years and Love for Basketball.
Born in Pittsburgh, Pennsylvania and has always been enthusiastic and sports fanatic. At the age of 12, he was selling garbage bags with the only purpose to buy a new pair of high-end basketball sneakers. However, this dealing sowed the seeds of business dealing to come. Through out his high school, he continued to work anything like promoting disco parties and bar-tending.
Got his First Job which ended up Firing him.
After completing his graduation from Indiana University.He got his first job in the early 80’s in a software company named, Your Business Software. During his time in a company, PC’s were growing swiftly and he made a handsome relationships with multiple software clients. He started began meeting the clients on the side to seek the business opportunity to grow his own business. Seeing this, Company fired him but his clients came with him.
After getting fired from his job, he launched his own company named, MicroSolutions, without wasting any time. The company was based on software reselling which gained a lot of publicity in a very short time.
Sold MicroSolutions to CompuServe and became Millionaire
Few years later, in 1990, Cuban sold MicroSolutions to CompuServe for $6 million. After clearing all the taxes, Cuban ended up with $2 million in his pocket.
The making of money with THE MONEY
In the mid 90’s he was busy trading in stocks. He became the investor and at that point, Cuban had turned his $2 million into $20 million.
Here comes the BROADCAST.COM
His passion for Sports curved into a huge profitable business. In 1998, along with his college friend, Cuban, started another company named, Audionet.com. Both were huge fan of basketball, their business was online portal merging basketball and webcasting. Later on, he changed the company’s name to Broadcast.com. The Broadcast.com expanded to over 300 employees and $100 million in annual revenue by late 90’s.
Played a Poker Game of His Life
When dot com was booming, he decided to sell, Broadcast.com to Yahoo. Finally, in 1999, Yahoo picked it up for $5.9 BILLION in Yahoo stock. When the deal was officially closed, it was the peak time of dot com and Yahoo’s stock was trading at $163 per share.
After six months, when he had full access to his stocks share, he gambles all his shares and dumped entire stake on the open market. Within a week, he sold every single share of Yahoo and was left with $2.5 BILLION in cash to his side.
And the most interesting part is, the share that he sold for nearly $160 crashes within the next 18 months to $8.11 PER SHARE.
And after that, he was UNSTOPPABLE
Today he owns, a basketball team-Dallas Mavericks, Landmark Theaters, film distribution company- Magnolia Pictures, 24,000 square foot mansion in Dallas and a private jet worth $40 million.
Mark Cuban Quotes
Wherever I see people doing something the way it’s always been done, the way it’s supposed to be done, following the same old trends, well, that’s just a big red flag to me to go look somewhere else.
Sweat equity is the most valuable equity there is..Know you business and industry better than anyone else in the world. Love what you do or don’t do it.
Because if you’re prepared and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there.
I don’t care what anyone says. Being rich is a good thing.
When you’ve got 10.000 people trying to do same thing, why would you want to be number 10,001?
Mark Cuban Picture Quote
Work like there is someone working 24 hours a day to take it all away from you.
I hope you’re pretty much inspired by the success story of Mark Cuban. In life you will never get a second chance, so don’t waste your time now go and play a poker game of your life.
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