Biting the hand that feeds you: Cuban vs. Yahoo
Had it not been for Jerry Yang and Tim Koogle, Mark Cuban would be just another middle-aged rich guy. Not George Soros-rich, but with enough shekels in the bank to spend a life of leisure.
Hey guys, I'm baaaack
In 1999, he sold Broadcast.com to Yahoo for the princely sum of $5.04 billion in stock (and then was smarter than the average bear by cashing out before the bubble burst). Up until then, Cuban was working with the proceeds from his 1990 sale of MicroSolutions, a computer reseller, for $6 million. Not bad, but not enough to buy a professional basketball team.
Now Cuban is part of the 10-person slate that Carl Icahn is proposing to take over Yahoo's board. Talk about a smack in the head! Of course, Cuban's a sharp tack and knows the ins and outs of the Internet business better than most. Still, maybe it's just me, but talk about biting the hand that feeds you. Yeah, I know, it's business, not personal.
- Topics:
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Technology,
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Business currents
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Carl Icahn,
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Mark Cuban,
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Yahoo,
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Microhoo
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GE Interest Plus
Hard to believe they would reward him for this but then again he's worth a lot more money now than he was worth even then.
And now that Yahoo sealed their fate by bailing on Microsoft, I would imagine he's brash enough to get them some press...enough to maybe sell for $20 a share.
C. Levy
clevy@buydrm.com