Broadcast
Yahoo!
Broadcast
Broadcast.com was a
web radio company founded as "AudioNet" in 1995 by Mark Cuban and Todd
Wagner.
The company had inauspicious beginnings, as a desire by co-founder Mark Cuban
to hear the basketball games of his alma mater, Indiana University. The initial
setup involved picking up signals from Dallas radio station, KLIF in Cuban's
bedroom and broadcasting them to home computers via the Internet.
As the company grew, AudioNet expanded from mainly broadcasting sporting
events to broadcasting
presidential conventions and many other events.
In May of 1998, AudioNet renamed itself Broadcast.com and on July 17, 1998,
Broadcast.com had their initial public offering, setting (at the time) a one-day record for IPOs by
rising almost 350% percent from its opening price. The stock closed up at $62.75
per share from their initial trading at $18 per share.
The record IPO made instant financial successes out of the company's
employees through
stock options, making 300 employees millionaires and founders Cuban and Wagner
billionaires.
In April 1999,
Broadcast.com was acquired by
Yahoo! for $5.7
billion in stock and became Yahoo! Broadcast Solutions. Over the next few years
Yahoo! split the services previously offered by Broadcast.com into separate
services, Yahoo! Launchcast for music and Yahoo! Platinum for video
entertainment. Yahoo! Platinum has since been discontinued, its functionality
being offered as part of two pay services, SBC Yahoo! DSL
and Yahoo! Plus.
As of 2006, neither broadcast.com nor broadcast.yahoo.com are distinct web
addresses; both simply redirect to yahoo.com.
External link
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