Mark Cuban sold Broadcast.com for $5.7 billion.
Broadcast.com was an internet radio company that Mark Cuban, along with his business partner Todd Wagner, sold to Yahoo in 1999 for $5.7 billion. This acquisition was a pivotal moment in Cuban's career, catapulting him to significant wealth and public recognition.
The Evolution of Broadcast.com
Originally known as Audionet, the company started as a pioneer in streaming media over the internet. Its primary focus was to provide internet radio, allowing users to listen to various broadcasts online.
Key aspects of Broadcast.com:
- Origin: Founded as Audionet, it was one of the first platforms to stream live events over the internet.
- Services: The platform offered a diverse range of content, including:
- Live broadcasts of sports games.
- Political conventions.
- Other significant events, making it a comprehensive hub for internet audio.
- Innovation: Broadcast.com was at the forefront of internet technology, demonstrating the potential of online streaming long before it became mainstream.
Key Facts About the Sale
The sale of Broadcast.com to Yahoo was one of the largest internet acquisitions during the dot-com boom era.
| Key Aspect | Detail |
|---|---|
| Company Sold | Broadcast.com |
| Acquirer | Yahoo |
| Sale Price | $5.7 Billion |
| Year of Sale | 1999 |
This strategic sale provided Mark Cuban with the capital to venture into new investments, most notably the acquisition of the Dallas Mavericks basketball team, further solidifying his status as a prominent entrepreneur and investor.
