Broadcast.com
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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, the 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 250% 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 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.