Mark Cuban has made his decision.
And surely this will satisfy many fans of the hit TV show Shark Tank, of which he is one of the main faces.
The future of the successful entrepreneur on the show has been speculated for several weeks now, as Season 14 is in the works.
Will he come back or will he close the chapter? This is the question that currently preoccupies fans and entrepreneurs. And many of them come to this program hoping to benefit from his advice, and especially from his personal involvement, in the form of an investment in their business. surname.
The concept of the program is simple. On one side you have entrepreneurs who have a creative project or an existing business that they want to expand. On the other side, you have investors, all “self-made” entrepreneurs who have made millions of dollars with their businesses and who are looking for breakthrough innovative concepts. break.
Dallas Mavericks
‘I will definitely return’
Entrepreneurs present their projects and try to convince at least one “shark” to invest in their business, in exchange for shares in their company. They often benefit from the skills and networks of the “sharks” as well as from their money.
The result is a show full of great ideas…or ridiculous ones, pitches by entrepreneurs who succeed in persuasion…or fail miserably, tough negotiations, moments Real emotions, screams, laughter and tears. Above all, there are many lessons to be learned for entrepreneurs, or even investors, in negotiation, selling, and the art of influencing and persuading.
In an email interview with TheStreet, the billionaire just announced his decision.
“I will definitely be back next year,” he said.
This means he’ll be there for Season 15. He didn’t say if he’ll be back in 2024.
The businessman frankly expressed the need to spend more time with his family. Cuban has three children: two daughters, Alyssa and Alexis, and a son, Jake.
From Entrepreneur to Investor
Cuban’s departure from Shark Tank is likely to leave a huge void as tech billionaire and owner of the NBA franchise, the Dallas Mavericks, has succeeded in injecting his infectious personality and energy .
In July of last year, the outspoken investor participated in 111 episodes of Shark Tank and closed 85 deals with a total investment of $19.85 million, according to the report. Sharkalytics. His biggest personal investment is in a company called Ten Thirty One Production, in which he invests $2 million with a 20% stake.
Overall, Cuban has invested an average of $233,529 in exchange for an average participation rate of 23% in the ownership of the companies he chooses to fund.
Here is a list of companies he has invested in through Shark Tank.
In 1983, the businessman was born in Pittsburgh before moving to Dallas in 1982, and Martin Woodall, a former Texas Instruments executive, founded a company called MicroSolutions, which was sold in 1990 for $6 million. .
Five years later, he and attorney Todd Wagner founded Broadcast.com, a platform for broadcasting radio programs over the internet. They will sell the company in 1999 to Yahoo! Inc for $5 billion. According to the Wall Street Journal, he made more than $ 1 billion from this deal.
