HomeEntrepreneursMark Cuban Shares the Story of How He Passed on the Opportunity...

Mark Cuban Shares the Story of How He Passed on the Opportunity to Invest in Uber

Even the most accomplished investors will make a wrong decision from time to time. For businessman and Shark Tank star Mark Cuban, that bad decision was passing on the opportunity to invest in Uber.

During a recent appearance on comedian Kevin Hart’s show Hart to Heart, Cuban shared how Uber cofounder Travis Kalanick approached him in 2009 with an offer to get a piece of the transportation app. The two knew each other since Cuban previously invested in Kalanick’s peer-to-peer file-sharing company Red Swoosh and saved it from bankruptcy.

 According to Cuban, he was interested in backing up Kalanick once again but didn’t think his valuation of $10 million was appropriate. Cuban offered an investment at a $5 million valuation but never heard back from Kalanick again.

“He got somebody else,” Cuban shared. “Whoops.”

Hart also had the opportunity to invest in Uber but also decided to pass on it. He was asked to put in $50,000 to $75,000 in the company’s early days, missing out on hundreds of millions of dollars.

On the other hand, Cuban shared that Kalanick asked for $250,000 from him. Considering that Uber is now worth around $90 billion, Cuban missed out on more than $2 billion.

Warner Bros, Discovery Looking to Split Businesses to Boost Its Stock

Warner Bros. Discovery, the entertainment conglomerate behind cable network HBO, Warner Bros. film and TV studios, and streamer Max, is exploring several options that...

Domino’s Pizza Stock Falls Amid Worse-Than-Expected Sales in Q2

The shares of Domino’s Pizza tumbled 12% on Thursday after the pizza restaurant chain reported worse-than-expected sales in the second quarter and adjusted its...

Ray-Ban’s Owner EssilorLuxottica Acquires Streetwear Brand Supreme in $1.5 Billion Deal

Italian-French corporation EssilorLuxottica, which owns the legendary sunglasses and eyeglasses brand Ray-Ban, has acquired streetwear maker Supreme from VF Corporation in a $1.5 billion...