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.
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.
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.
Cuban 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 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.
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.
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.
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.
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.
Cuban 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.
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.’
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.
The Benefactoris 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.
Cuban 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.
The Series B round is reported to value the company at a pre-money $100 million. News Corp., CBS, Elon Musk, and Acton Capital Partners join Sequoia Capital and Mark Cuban, who both renew their investment from the previous round.
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.
Cuban performs on the fourth episode of the show’s fifth season, with Kym Johnson. Despite earning the lowest score of the passing couples, Judge Len Goodman says their performance of the Viennese Waltz was Cuban’s best performance thus far.
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.
Starts Bailoutsleuth.com, a 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.
The Burns and the Bees, the eighth episode of The Simpsons‘ 20th season, airson Fox TV, with Cuban as a 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.
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.
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.
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.
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.
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.
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.
Cuban 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.
Cuban 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.
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.
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