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Mark Cuban Microsolutions

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Je'Von Harris

on 24 January 2014

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Transcript of Mark Cuban Microsolutions

Start of the Riches
The internet company Yahoo brought Broadcast.com with Cuban earning himself just over 5 billion worth of Yahoo stock.

Now loaded with money Cuban went on a spending spree and landed himself a mansion in Dallas, a $40 million jet and to top it off in 2000 he paid $285 million to become the new owner of the Dallas Mavericks basketball team.

Having been a basketball fanatic his whole life he set to work on revamping the team and making them competitive. He started by creating new uniforms and advertising schemes and then went about acquiring talented players, which worked wonders and made the Dallas

Mavericks playoff contenders in only one season.
Cuban regularly sits alongside fans in his team’s jersey and obviously gets very passionate having paid well over $1 million in fines for lashing out at officials and referees. Cuban also matches his NBA fines with charitable donations of equal amounts.
Who Is Mark Cuban
Mark Cuban was born on the 31st of July 1958 in Pittsburgh Pennsylvania in a middle class family.

Cuban enrolled as a fulltime student at the University of Pittsburgh instead of returning to school for his senior year, and then transferred to Indiana University after the first year because Pittsburgh didn’t run an undergraduate business school.

July 1982 saw Cuban move to Dallas, Texas and started job hunting, which landed him work as a salesperson for Your Business Software, a PC software retailer.

He decided to start his own company calling it MicroSolutions and then used some of Your Business Software’s customers to get the ball rolling.

Microsolutions: The Beginning
MicroSolutions became a software reseller and system integration company, selling products such as Compuserve, Carbon Copy, and Lotus Notes, with the company’s biggest client being Perot Systems.
Cuban sold MicroSolutions to CompuServe for $6 million in 1990.
In 1995 Cuban and friend Todd Wagner became interested in the early stages of the internet along with their interest in basketball resulted in them starting broadcast.com which grew to revenues of almost $100 million and 330 staff.
The internet company Yahoo brought Broadcast.com with Cuban earning himself just over 5 billion worth of Yahoo stock.

His Net Worth
Mark Cuban net worth: Mark Cuban is a remarkably successful American entrepreneur who has a net worth of $2.5 billion. In addition to being a multi-billionaire, Mark Cuban owns the Dallas Mavericks, Magnolia Pictures, Landmark Theaters and is chairman of HDNet, an HDTV Cable Network.
Latest news
This has not always worked out well for Cuban. Since he became owner of the Mavericks he has been hit with 19 fines by the NBA, 11 of which were for either interacting with the refs in an inappropriate way or criticizing their ability to make the right calls.

In total, these fines amount to $1,840,000. That's more than three times as much as the next most fined individual in the NBA since 2000—Micky Arison has been fined twice for $525,000.
Interesting fact

Mark Cuban Microsolutions
On November 17, 2008, it was reported that the U.S. Securities and Exchange Commission (SEC) filed a civil suit against Mark Cuban relating to alleged insider trading in the shares of Mamma.com, now known as Copernic.[57] A stock dilution occurred shortly after a trade in June 2004, giving hints of inside knowledge at the time of the trade, and Cuban allegedly was saved from a loss of $750,000.[58] The SEC claims that Cuban ordered the sale of his holdings in Mamma.com after he had been confidentially approached by the company to participate in a transaction likely to dilute shares of current shareholders. Cuban disputed the charges, saying he had not agreed to keep the information secret.[59] On his blog, Cuban contended the facts were false and that the investigation was "a product of gross abuse of prosecutorial discretion".[60] DealBook, a section of The New York Times, reported through an anonymous source that Cuban believed the investigation was motivated by an SEC employee having taken offense to his interest in possibly distributing the film Loose Change.[61]
In July 2009, the U.S. District Court dismissed the charges against Cuban. But the SEC appealed, and in September 2010 an appeals court said that the district court had erred and that further proceedings would be necessary to address the merits of the suit.[62]
A Texas Jury found Cuban not guilty of the charges on Wednesday, Oct. 16, 2013.[63] The nine-member jury issued the verdict after deliberating 3 hours and 35 minutes. Cuban nodded and smiled as the verdict was read.
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