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Monday, July 22, 2024

Mark Cuban regrets turning down a 2009 offer to invest $250,000 in Uber, which is now worth $2.3 billion

<p>Do you know that as of Friday (August 18, 2023) the $250,000 that billionaire Mark Cuban put in the ride-sharing startup Uber in 2009 would have been worth $2.25 billion?<img decoding=”async” class=”alignnone wp-image-136399″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-mark-cuban-regrets-turning-down-a-2009-offer-to-invest-250000-in-uber-which-is-now-worth-2-3-billion-download-92.jpg” alt=”theindiaprint.com mark cuban regrets turning down a 2009 offer to invest 250000 in uber which is now worth 2 3 billion download 92″ width=”1214″ height=”808″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-mark-cuban-regrets-turning-down-a-2009-offer-to-invest-250000-in-uber-which-is-now-worth-2-3-billion-download-92.jpg 275w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-mark-cuban-regrets-turning-down-a-2009-offer-to-invest-250000-in-uber-which-is-now-worth-2-3-billion-download-92-150×100.jpg 150w” sizes=”(max-width: 1214px) 100vw, 1214px” title=”Mark Cuban regrets turning down a 2009 offer to invest $250,000 in Uber, which is now worth $2.3 billion 9″></p>
<p>Recent media stories have stated that the billionaire regrets having missed the opportunity roughly 15 years ago. A source claims that Mark Cuban, who declined to invest in Uber in 2009, is still regretful about his choice. Cuban would have had a share in Uber valued at $2.3 billion if he had invested $250,000 in the firm at that time.</p>
<p>In a recent episode of comedian Kevin Hart’s Peacock talk show “Hart to Heart,” Cuban said that cofounder of Uber Travis Kalanick had approached him about making an investment in the firm at a $10 million value. As of last week, the corporation had a market value of $90.1 billion.</p>
<p>“Just think: If I had given him $250,000 on a [$10 million] valuation, it would have been billions,” added Cuban.</p>
<p>He was concerned that the ride-sharing company’s regulatory problem might impede its development. In addition, Cuban reportedly told Kalanick that taxi commissioners would “try to put you out of business.”</p>
<p>It’s important to note that in 2005, Kalanick’s prior business, a peer-to-peer networking firm named Red Swoosh, received a $1.7 million investment from Cuban. Later, in 2007, Kalanick offered the venture to cloud services provider Akamai for a price of $18.7 million.</p>
<p>As of August 20, 2023, Mark Cuban’s net worth, as reported by Forbes, was $5.1 billion. In 1995, the Shark Tank star and fellow Indiana University graduate Todd Wagner launched the video platform Broadcast.com, which they later sold to Yahoo for $5.7 billion. In addition to co-founding Cost Plus Drugs, which he started in January of last year to cut the cost of prescription drugs, Mark Cuban is now the owner of the NBA’s Dallas Mavericks.</p>
<p>Cuban’s sorrow about not investing in Uber in 2009 demonstrates how even millionaires may suffer for years after missing a chance.</p>
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