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- Brad_Greenspan abstract "Brad Greenspan is an internet entrepreneur who has been involved in the founding and proliferation of various web properties including MySpace. Greenspan founded eUniverse Inc. in 1998, which went public in 1999. The company survived the .com-bust of 2001 and was the incubator that launched MySpace.com in 2003. Most recently he won a Federal ruling against Google, Inc., IAC/Interactive, News Corporation when his motion for relief to reinstate the upwards of ninety six billion dollar class damages reported in the second amended federal class action complaint on behalf of over 1000 Federal class action members under Rule 23, after a September 18, 2015 hearing in San Jose District Court, in the action Brad Greenspan, on behalf of himself and all others similarly situated, Plaintiff, v. IAC/InterActiveCorp, a Delaware corporation; Google, Inc., a Delaware corporation; News Corp, a Delaware corporation. The Defendants had won a dismissal on default in May 2015 as the Class action lawyers withdrew, leaving the case undefended for the default hastily rushed thru by the Defendants eager to attempt to take advantage of a temporarily unrepresented Federal certified class of over 1000 shareholders.Federal District Court Judge Ronald M. Whyte's ruling on September 18, 2015 in favor of the Federal Class of Myspace shareholder Plaintiffs that includes Greenspan gave the shareholders 30 days to retain new class counsel and appear before the Court. The case will continue to Jury Trial expected sometime in 2016.As Law360.com succinctly reported as its title of a September 18, 2015 article covering the hearing: \"New attys key to reviving google news corp myspace suit\". \"Prior to the launch of Myspace, Greenspan grew eUniverse into one of the largest Entertainment networks on the internet. eUniverse was originally headquartered in Wallingford Connecticut but as the company grew it moved the headquarters to Los Angeles and Greenspan became not only the Chairman but also the CEO of the company. According to Comscore Netscore, the eUniverse Network was the ninth largest internet property for the month of October 2001. At such time, eUniverse's online audience in the United States was larger then Google's and had a worldwide audience of over 49.4 million unique users. Greenspan's eUniverse was an innovator in online advertising, entertainment and content sharing.A Gartner Report by Denise Garcia in 2001 titled “EUniverse: The Secret Successful World of Internet Ad Sales” explained “How a company dependent on ad sales makes a profit and maintains its’s position as the 8th largest site in the US.” The report further stated:“Managing an online advertising dependent business seems nearly impossible in this climate of dismayed sites and disgruntled advertisers. With some smart planning and selling, realizing a profit-and satisfying cusomers—is possible”The Gartner Report further states “Successful web publishers will develop a formula for success similar to eUniverse’s”“eUniverse has created a network of sites that work as a direct marketing vehicle which deliver information, foster relationships and enable transactions. “We looked at some of the most popular content on the web and saw the need to bring entertainment and communications together in a way that only the Internet can” Thus, eUniverse’s entertainment distribution and direct marketing model was born.“It is this direct marketing model that’s fuled eUniverrse’s tremendous growth. According to Nelson/Netratings eUniverse’s unique audience grew over 450% from February 2000 to February 2001—from 2.8 million unique users to 13.4 million. In a world where not everyone is witty, clever or funny, users visit eUniverse for the ‘recipe of the day”, the “joke of the day”, “a hug” or just a “little inspriration”. One user named Carolyn says, “I visit it everyday and recommend it to all I Know.” The viral aspect of these emails imply an endorsement from a user like Carolyn to her friends and they start coming to the site as well—and the numbers reflect growth.\"Websites launched by Greenspan and eUniverse included:Flowgo.com launched in late 2000 focused on viral entertainment including flash cartoons and greeting cards. By June 2001, Flowgo.com had become the #1 entertainment website on the internet with 12,980,000 unique monthly visitors according to Nielsen Netratings.Madblast.com launched in 2001 became a leader in online flash games.CupidJunction.com launched in 2001 was eUniverse's dating website.Justsaywow.com launched in 2000 was a leader in flash entertainment and boasted a daily email newsletter with over 50 million subscribers.Skilljam.com a skilled online gaming property was launched by eUniverse in 2002. In March of 2003, Skilljam announced it had struck an exclusive multi year partnership to run skilled pay-per-play gaming for Microsoft’s MSN property. Forbes described the partnership in a March 18, 2003 article titled “Win Bill Gates’ Money”. By September 2003 according to eUniverse’s September 25, 2003 PR Newswire release “hosted over 1.7 million unique visitors in August, according to Internet audience measurement service Nielsen/Netratings. Based on such unique audience reach, Skilljam has established itself as the world’s largest online pay-per-play skill based gaming property.”As incredible as Greenspan’s leadership steering eUniverse’s audience growth despite a fraction of the cash raised compared to the competition at the time, was Greenspan’s performance as an operator of the publicly traded company:For the 12 months thru March 2000, eUniverse generated $1.84 million in revenue and had a $6.55 million EBITDA loss.For the 12 months thru March 2001, eUniverse generated $15.66 million in revenue and had a $2.47 million EBITDA loss.For the 12 months thru March 2002, eUniverse generated $33.19 million in revenue and had a $6.64 million EBITDA gain.For the 12 months thru March 2003, eUniverse generated $65.74 million in revenue and had a $1.08 million EBITDA gain.In the final month Greenspan served as Chairman and CEO, October 2003, eUniverse generated $5,736,710 in revenue, over $500,000 in positive EBITDA, and $286,920 in net income.Greenspan resigned in late October 2003 as CEO and as a Director in December 2003 stating in an SEC 8k that he felt the other \"directors have breached their fiduciary duties to the Company and its stockholders\"Greenspan retained a significant percentage of shares in the company and owned 10% of the company when it sold to News Corp in 2005. Greenspan opposed the acquisition, and has been fighting News Corp both legally and publicly ever since. He increased the market capital of Euniverse from $70m to $650m when the company was sold to News Corp. Greenspan invested in China based Hupo.TV an online video site in 2006 which grew to over 30 million unique monthly users by December 2007. Greenspan's BroadwebAsia partnered with Major League Baseball Advanced Media (MLBAM) in 2008 to launch MLB.com's first Chinese website MLB.cn.".
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- Brad_Greenspan comment "Brad Greenspan is an internet entrepreneur who has been involved in the founding and proliferation of various web properties including MySpace. Greenspan founded eUniverse Inc. in 1998, which went public in 1999. The company survived the .com-bust of 2001 and was the incubator that launched MySpace.com in 2003.".
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