Mark Cuban

Mark Cuban88 posts

Mark Cuban is an American businessman and investor. After selling Broadcast.com to Yahoo, he bought the Dallas Mavericks, Landmark Theatres, and Magnolia Pictures. He has appeared on Dancing With The Stars, and is one of the Shark Tank investors. He lives in Dallas.

31 Jul, 1958

Mark Cuban born in Pittsburgh, Pennsylvania

Birth

Mark Cuban is born in Pittsburgh, Pennsylvania, to Norton and Shirley Cuban. He grows up in the suburb of Mount Lebanon. 

We were middle class, so we never suffered, we never went hungry, but we certainly were never frivolous either. I got yelled out if I left lights on or took too long in the shower. And going out to eat was a special family occasion. We watched what we spent, but we were never uncomfortable. 

1980

Works for Mellon Bank

Hired

Cuban gets a job at Mellon Bank in a department that converts paper to computerized systems. While there, Cuban starts a group called “the Rookie club”. He invites executives to speak with the younger employees in a happy hour atmosphere and starts a newsletter for updates on current projects. He thought his boss would like his new ideas.

Instead, my boss called me into his office one day and ripped me a new one. “Who the f— do you think you are?” he yelled. I told him I was trying to help Mellon make more money. He told me I was never to go over him or around him, or he’d crush me.

1981

Buys pub

motley'sCuban buys a pub in Bloomington, Ind., called Motley’s. It quickly becomes a popular hangout for both Indiana University students and professors.

I would go there, underage. And then we threw a couple of parties there. The only time they had crowds in there was when we threw our parties, and I thought, well, if I can get a crowd to show up for a couple of nights, maybe we could do it more often. I took the  proposition to (former IU rugby teammate) Evan Williams, and he got into the idea. We were both big proponents of beer and so, you know, I learned early you stick to the things you know. Partying and drinking were things I was excelling at, for better or worse. Evan put up more money than I did. I put up my student loan money. That’s how we started it.

Graduates from Indiana

Graduates from Indiana University’s Kelley School of Business with a Bachelor of Science degree in Business Administration.

At the IU Business School I learned how to learn. When you know how to learn, then you’re a student for the rest of your life, and I think to enjoy the experience of being a student for the rest of your life is probably more valuable than anything.

1982

Moves to Dallas

In Dallas Cuban lives in a tiny, three-bedroom apartment with five buddies. As he is the last to move in, he doesn’t have a bedroom or a bed, closet or dresser. None of the room mates have any money so they throw parties to save money. They vow to spend no more than $20 if they go out, and when they do they drink $12 chanpagne. One roommate collects rent from the others, until one month he skips town.

Cuban bartends until he lands a job with Your Business Software earning $18,000 per year plus commission. When he lands a $15,000 sale with a $1500 commission his boss tells him not to pick up the check,  but he does anyway thinking his boss would be okay with it once he had the money.

Instead, when I came back to the office, he fired me on the spot. I had disobeyed him. He was one of those CEOs who is all pomp and circumstance, one of those guys who seems to scream: “Don’t you know who I am? What I do?” He tried hard to look and act the part of the CEO. He wore the right suits. But he had a huge flaw: He never did the work. He never demonstrated the initiative to go out to sell. I had realized by that time that “sales cures all.” That’s a phrase I still use to this day. He was my mentor, but not in the way you’d expect. Even now I think back to things he did, and I do the opposite. And he made me superstitious about titles. I’m never listed as the CEO of my companies. There is no CEO. I am the president.

1983

Starts Micro Solutions

Founding

Cuban starts a company called Micro Solutions, working as a PC consultant selling software, training and configuring computers. One day he needed a part and went to PCs Limited which was run by someone younger than him.

 I was really impressed by him. I remember telling him, “Dude, I think we’re both going places.” That “dude” was Michael Dell.

That year he got Micro Solutions into local-area networks, hooking up small to medium business sizes so they could share information. The company grows to $30 Million in revenues.

4 Feb, 1990

Sells Micro Solutions

While Micro Solutions is grossing $30 Million and employing 85 Cuban decides to sell to an Ohio-based company called CompuServe and retire.

I ended up making about $2.2 million. I bought a lifetime pass on American Airlines and I just started traveling.

May 1995

Co-founds AudioNet

Founding

AudioNet Logo With fellow University of Indiana graduate Todd Wagner, co-founds AudioNet.com, a web site enabling access to live sports games online. Its initial live broadcasts take place later in September 1995.

May 1998

AudioNet becomes Broadcast.com

broadcast.com logoAudioNet.com changes its name to Broadcast.com.

We were serving audio and video live and on demand to more than 1mm (million monthly) unique users per day. We had full-length audio books, full-length CDs, full-length movies, TV shows. You name it. We gave you realtime statistics of how many people were watching your video, and if you required registration, which we offered, you knew exactly who was watching.

1 Apr, 1999

Yahoo! acquires Broadcast.com

 Yahoo acquires Broadcast.com for $5.7 billion in stock and renames it Yahoo! Broadcast Solutions. 

After we sold Broadcast.com, I hedged my stock with synthetic indexes, in case the market cratered in the six months before I could hedge my actual Yahoo shares. It cost me $20 million, but I protected what I had. Todd Wagner and I had a credo: “Pigs get fat; hogs get slaughtered.

Oct 1999

Record e-commerce jet purchase

Mark Cuban GulfstreamCuban is credited with the largest single e-commerce transaction by The Guinness Book of Records after he pays $40 million for his Gulfstream V jet.

Since I’ve owned the GV there are too many examples to count of how the airplane has helped me. Flying out after a late-night game to be at a meeting the next morning. Leaving a meeting to get home in time for my daughter’s first daddy-daughter dance. It’s part of my life that I can’t be without.

4 Jan, 2000

Buys Dallas Mavericks

Cuban purchases the NBA’s Dallas Mavericks for $285 million from Ross Perot Jr.

I was at opening night with my then girlfriend, now my wife, the ’99-2000 season. It wasn’t a sellout, there was no energy in the building. It was then, literally not a day before, and I said, ‘You know what, I can do a better job than this.’

6 Sep, 2001

Launches HDNet

HDNetLaunches HDNet with Philip Garvin, owner of Colorado Studios and Mobile TV Group. It airs a variety of programs, all in high definition.

You don’t have to be the biggest to beat the best, but you do have to outwork the bigger players.

11 Sep, 2001

Magnolia Pictures

Magnolia picures logo2929 Entertainment puts seed money into the launch of Magnolia Pictures, which is formed  by Bill Banowsky and Eamonn Bowles. It specializes in both foreign and independent films.

Mark and I pay for this, and nobody else does. Not Sony Pictures Classics, not Harvey and not IFC. – 2929 Entertainment co-owner Todd Wagner.

24 Sep, 2003

Buys Landmark Theatres

landmark theatres logo2929 Entertainment buys Landmark Theatres, which now owns 58 theatres in 23 markets. The chain, founded by KimJorgensen in 1974, primarily shows independent and foreign films.

Going to the theater is something that will never be replicated at home. However, unless
we give movie goers a reason to go, they won’t.

Weblogs, Inc.

Calacanis and Alvey start the blog network, with funding from Cuban. Calacanis says they had the idea to:

Take blogs, which were very new at the time, personal journals where people were writing about what they were doing on the web, and professionalize them.

25 Sep, 2003

Alexis Sofia Cuban born in Dallas

Birth

A first child is born to parents Mark Cuban, 45 and Tiffany Cuban, 31.

I’m not saying I know everything about fatherhood, but I can say that what I do know, I love. It’s the best thing that’s ever happened to me by a long shot

13 Sep, 2004

The Benefactor

The Benefactor, a series involving contestants trying to win $1 million by participating in various contests -- with their performances being judged by Cuban --  premiers on ABC.

 I want every U.S. resident 21 and older to apply. Everyone has dreamed of getting rich, and I want to help one lucky person get there. This isn’t traditional contest. You don’t need special talents. I’m not looking to find out who is the grossest, funniest, prettiest, smartest or able to go without food or water the longest. The right person is going to get on my good side at the right time, and whoever that is is going to walk away with a check from me for one million dollars.

25 Oct, 2004

The Benefactor canceled

The Benefactor is canceled due to poor ratings before the full season airs. It is reduced to six episodes from an intended eight. A letter from Donald Trump to Cuban following the announcement read:

I am truly sorry to hear that your show has been canceled for lack of ratings. When I initially called you to congratulate you on The Benefactor, little did you or I realize how disastrous and embarrassing it would turn out to be for you. If you ever decide to do another show, please call me and I will be happy to lend a helping hand.

Nov 2005

Magnolia Home Entertainment

Magnolia logo2929 Entertainment creates Magnolia Home Entertainment to release its films over home video. It is run by Randy Wells, the former head of home entertainment for Miramax.

We like controversial subjects, but we are agnostic to which side the controversy comes from.

Dec 2005

Invests in high-tech toilet seat

SwashCuban invests $1.3 million in Brondell Inc., a San Francisco startup making a high-tech toilet seat called a Swash that works like a bidet but mounts on a standard toilet. It cleanses with a spray of warm water, relieving people from the hassles of toilet paper, and has a heated seat. Its top-of-the-line model also comes with a warm-air dryer and a remote control.

People tend to approach technology the same way, whether it’s in front of them, or behind them. I have always been interested in innovative and cutting edge-technologies coupled with a large market opportunity.

Jul 2006

Finances Sharesleuth

sharesleuth logoFinances Sharesleuth.com, a website created by former St. Louis Post-Dispatch investigative reporter Christopher Carey to uncover fraud and misinformation in publicly traded companies.

Sharesleuth.com is what it is. It’s paid for by my trading based on the information we uncover.

2007

Alyssa Cuban born in Dallas, Texas

Birth

Alyssa Cuban is born to parents Mark Cuban, 49 and Tiffany Cuban, 35, and sister Alexis, age 4. Tiffany comments on the growing family:

We’re not the couple you see about town at all the events, because when he’s home, we pretty much want to spend time with the girls and it’s kind of downtime, family time for us.

Apr 2007

Let’s Go, Mavs!

let's go mavs coverCuban’s first children’s book, Let’s Go, Mavs!, is published by Mascot Books.

It’s all about good sportsmanship. It can be read by parents or by older kids. The message is simple but important.

1 Oct, 2007

Dancing With the Stars – week two

TV Appearance

Cuban performs on the second episode of the show’s fifth season, with Kym Johnson. The day before the show Cuban writes on his blog:

Our Mambo is fun. We have some great moves that hopefully the crowd will love. There are some tough timing moves that I have to get right , but no matter what, I promise that its going to be fun !!

13 Oct, 2007

HDNet Fights premiers

HDNet Fights, a mixed martial arts promotion which airs exclusively on HDNet, premiers with a card headlined by a fight between Erik Paulson and Jeff Ford, as well as fights featuring veterans Drew Fickett and Justin Eilers.

 Beyond live events, we have the only weekly news show dedicated to Mixed Martial Arts on television.

CSW Erik Paulson vs. Jeff Ford.avi

22 Oct, 2007

Dancing With the Stars – week five

TV Appearance

Cuban performs on the fifth episode of the show’s fifth season, with Kym Johnson. Their performance of the Samba does not earn them enough points and they are eliminated from the competition.

Everybody thinks because I yell at the refs in basketball — my one release — that I can give it but I can’t take it. Look, put aside the show. You’ve got to learn to improve and get better at anything you do, every day of your life. I can take the criticism. My wife reminds me that I can take criticism every day.

17 Oct, 2008

Bailoutsleuth.com

Bailoutsleuth logoStarts Bailoutsleuth.coma grassroots online portal for overseeing the U.S. government’s $700 billion bailout of financial institutions.

Transparency is key to the success of the Bailout and related loans and investments the government makes with our tax dollars. Without complete transparency, we will get from our government what we always get when it comes to finances – confusion.

7 Dec, 2008

Guest stars on The Simpsons

Cameo/Guest Appearance

Burns nd the BeesThe Burns and the Bees, the eighth episode of The Simpsons‘ 20th season, airs on Fox TV, with Cuban as guest star.

Montgomery Burns attends his annual billionaire retreat and wins control of the Austin Celtics from the show’s Texas oil tycoon in a poker game. After meeting Cuban, Burns tries to win over fans with his own antics. 

16 Jan, 2009

Fined for yell

Cuban is fined $25,000 by the NBA for yelling at Denver Nuggets’ J.R. Smith at the end of the first half of the Mavericks-at-Nuggets game played on January 13. Cuban was apparently incensed that Smith had thrown an elbow that barely missed Mavericks forward Antoine Wright.

 The NBA tells me a tech should have been called on you for throwing the elbow and that I should pay a 25k dollar fine because owners aren’t supposed to get mad. Ever.

9 Feb, 2009

Announces Stimulus Plan

Announces what he calls the Mark Cuban Stimulus Plan, which entails people posting ideas that fit certain criteria with the hope that he will either fund them, or other individuals will take up the ideas.

The idea is not just to help you, but to figure out how to help the economy through hard work and ingenuity. If you come up with the idea and get funding, you have a head start. If you execute better than others, you could possibly make money at it.

29 Mar, 2009

$25,000 fine for Twitter ref criticism

Cuban is  fined $25,000 for criticizing the referees on Twitter after a 103-101 loss to the Denver Nuggets. He complains that Denver’s J.R. Smith was not called for coming off the bench to taunt Antoine Wright after he missed a shot near the Nuggets bench.

1 Jan, 2010

Jake Cuban born in Dallas

Birth

Jacke Cuban is the third child born to parents Mark Cuban, 52 and Tiffany Cuban, 38, and to sisters Alexis, 7, and Alyssa, 3.

Jan 2010

Sues UFL over $5 million loan

Cuban files a federal lawsuit against the United Football League for their failure to repay a $5 million loan by the October 6, 2010 deadline. Cuban refuses to comment, but UFL spokesperson Michael Preston says:

As we have said previously, we like many companies regrettably do not always meet our intended turnaround on payments in these tough economic times when we find ourselves behind in cash flow. We like all new businesses are not immune from the effects of a stagnant economy.

Apr 2010

Loans UFL $5 million

United_Football_League_(2009)_logoLoans the newly formed United Football League (UFL) $5 million. He will not own a franchise or be involved in the day-to-day operations of the league or of any of its teams.

I didn’t want to take on the responsibility of a franchise. It will make things really interesting, potentially. Now if there’s not a lockout, it’s a valid league.

18 May, 2010

Seeks LeBron for Mavricks

Interview

In an exclusive interview with CNNMoney, Cuban says:

Come July 1st, yeah, of course, anybody would be interested in LeBron James, and if he leaves via free agency, then it’s going to be tough… if he decides to leave — there’s still a better chance he stays — then he’ll try to force a sign-and-trade, and that gives us a chance.

22 May, 2010

Fined $100,000

Judgement

The NBA fines Cuban for violating the league’s anti-tampering rules with comments made in an interview with CNNMONEY.com about recruiting LeBron James to the Mavericks. Cuban is punished for failing to adhere to the details of a 2008 memo sent to all 30 NBA teams:

If a member of your organization is asked by the media about a potential free agent prior to the July 1 following the last season covered by the player’s contract, or about any other person under contract with another NBA team, the only proper response is to decline comment.

18 Oct, 2010

BlueCava $5m investment

Blue CavaCuban and Headington lead a group of investors funding investing five million dollars in BlueCava, a startup company producing a device ID technology which is the first of its kind. CEO David Norris comments on Cuban’s involvement:

Mark is a smart man who is passionate about technology. He believes our business is very unique and he wants to help build it to its maximum potential and help us with our long term strategy of taking our business to a much larger size.

22 Oct, 2010

Invests in JungleCent

JungleCentsCuban invests in the gift card affiliate startup JungleCents. No amount is officially reported, but it is assumed that the seed funding amounts to approximately $1.5 million dollars, and that he is the sole funder. Cuban says

Curating and matching deals is both art form and science. It’s not easy to procure deals from major brands and it’s no easier to match those deals to editorial. I don’t see deal curation ever becoming a core competency for high volume sites. Its a very specific skill set and the companies offering the deals don’t want to deal with every media site.

Company co-founder Sameer Mehta says about Cuban’s involvement:

Aside from his advice, where he chimes in on the focus and direction of the company, his name does help because we are a sales-focused company, so it’s easier to get a foot in the door with brands to pitch our products and services.

11 Feb, 2011

Dallas Stars ownership talks

Interview

The entrepreneur reveals an interest in becoming a minority owner in the NHL’s Dallas Stars:

I’m not looking to outright buy the team. I have talked to somebody who is interested in buying the team and I told them I would try to help them get a deal done. From my end, I like hockey, I’m a fan, but I’m not a hockey guy. l’m not going to lie and pretend I can come in and bring the energy that I try to bring to the Mavs.

19 Apr, 2011

Landmark and Magnolia for sale

Cuban puts Landmark Theatres and Magnolia Pictures up for sale.

Prices for entertainment properties have gone up considerably. We will only sell if the price is right. Otherwise, we are happy to keep on making money from the companies.

12 Jun, 2011

Mavericks win NBA Finals

Dallas Mavericks beat Miami Heat 105-95 to clinch their first NBA title, winning the series 4-2.

It’s been 31 years for all of us here in Dallas and I know it’s just as special for each of you as it is for me. … We’ve got one and we’re going to keep on trying to get more.

Mark Cuban - Dallas Mavericks Victory Parade

8 Jul, 2011

Keeps Magnolia and Landmark

Cuban decides to keep Landmark Theatres and Magnolia Pictures after failing to attract bids for the assets.

We haven’t received any offers. For the right price we would still sell.

Do you love news? Help us add and summarize the world's news. Find out more