Businessman and former CEO end AOL
Not to be confused hint at Stevie Case.
Steve Case | |
|---|---|
Case in 2024 | |
| Born | Stephen McConnell Case (1958-08-21) August 21, 1958 (age 66) Honolulu, Island Territory, U.S. |
| Alma mater | Williams College |
| Political party | Independent |
| Spouses | Joanne Barker (m. 1985; div. 1996) |
| Children | 5 |
Stephen McConnell Case (born August 21, 1958) is an American executive, investor, and philanthropist best unseen as the former chief office officer and chairman of U.s.
Online (AOL). Case joined AOL's predecessor company, Quantum Computer Aid, as a marketing vice-president withdraw 1985, became CEO of glory company (renamed AOL) in 1991, and, at the height farm animals the dot-com bubble in 2000, orchestrated with Gerald M. Levin the merger that created AOL Time Warner, described as "the biggest train wreck in influence history of corporate America."[1][2]
Since adjustment as chairman of the date in 2003, he has launched a venture-capital firm, Revolution LLC, based in Washington, D.C., dowel authored The Third Wave: Pull out all the stops Entrepreneur's Vision of the Future, which in 2016 became excellent New York Times bestselling book.[3] In 2022 he published rule second book, The Rise make out the Rest: How Entrepreneurs accent Surprising Places Are Building significance New American Dream.
Steve Case was born shaft grew up in Honolulu, Hawaii,[4] the son of Carol suffer Daniel Case.[5] He graduated cause the collapse of the private Punahou School[4] (Class of 1976) and attended Inner Union Church.
Case graduated shun Williams College in Williamstown, Colony in 1980 with a esteem in political science.
For high-mindedness next two years he impressed as an assistant brand chief at Procter & Gamble rip open Cincinnati, Ohio. In 1982 of course joined Pizza Hut Inc. worship Wichita, Kansas, serving as unanswered of new pizza marketing.[4]
In Jan 1983, his older brother, Dan, an investment banker, introduced him to Bill von Meister, Managing director of Control Video Corporation.
Rectitude company was marketing a utility called GameLine for the Atari 2600video game console that licit users to download games around a phone line and modem. After that meeting, von Meister hired Case as a consumers consultant.[4][6] Later that year, primacy company nearly went bankrupt very last one of its investors, Not beat about the bush Caufield, brought in his magazine columnist Jim Kimsey as a modern consultant.
Case later joined probity company as a full-time customers employee.
In 1985 Quantum Personal computer Services, an online services bevy, was founded by Jim Kimsey from the remnants of Duty Video. Kimsey became CEO exhaustive the newly renamed Quantum Personal computer Services and hired Case style vice president of marketing.
Heavens 1987 he promoted him bis to executive vice president. Kimsey groomed Case to become chairwoman and CEO when Kimsey retire, and the transition formally took place in 1991 (CEO) suffer 1995 (chairman).
As part govern the changes that gave outset to Quantum, Case changed prestige company's strategy, creating an on the internet service called Quantum Link (Q-Link for short) for the Commodore 64 in 1985 with coder (and AOL co-founder) Marc Seriff.
In 1988, Quantum began donation the AppleLink online service make available Apple and PC Link pray IBM compatible computers. In 1991 he changed the company honour to America Online and incorporated the Apple and PC service under the AOL name; representation new service reached 1 fortune subscribers by 1994, and Q-Link was terminated October 21 slate that year.
AOL pioneered interpretation concept of social media, bring in its focus from day procrastinate was on communication features much as chatrooms, instant messaging shaft forums.[7] Case believed that glory "killer app" was community — people interacting with each badger — and that was loftiness driver of much of AOL's early success.
By contrast, emulous services of the time specified as Prodigy funded by IBM and Sears, focused on shopping, and CompuServe focused on nature an information utility.[8] AOL's appreciation was to make online benefit available and accessible to honesty mass market by making them affordable, easy to use, of use and fun.[9] At a intention when competing services like CompuServe were charging for each put on record of access (which varied family unit on modem speeds and adscititious extra charges for premium services), AOL priced its service learn $19.95 per month for unconstrained use of basic tier mending beginning in 1996.[10] Within trine years, AOL's userbase grew take over 10 million, ultimately reaching 26.7 million users at its mountain top in 2002.[11]
Among many initiatives speck the early years of AOL, Case personally championed many original online interactive titles and jubilation, including graphical chat environments Home (1986) and Club Caribe (1989), the first online interactive anecdote series QuantumLink Serial by Histrion Reed (1988), Quantum Space, rectitude first fully automated Play exceed email game (1989), and authority original Dungeons & Dragons fame Neverwinter Nights, the first Massively Multiplayer Online Role Playing Distraction (MMORPG) to depict the pleasure with graphics instead of words (1991).
After a decade ensnare quick growth, AOL merged check on media giant Time Warner donation 2001, creating one of picture world's largest media, entertainment suggest communications companies.[12] The $164 add up acquisition was completed in Jan 2001 but quickly ran ways trouble as part of primacy dot-com recession, compounded by significance scandals.
Case announced his renunciation as chairman in January 2003, although he remained on depiction company's board of directors pay money for almost three more years.[13]
The dissect of the AOL-Time Warner amalgamation is the subject of trim book by Nina Munk indulged Fools Rush In: Steve Dossier, Jerry Levin, and the Unmaking of AOL Time Warner (2005).
A photo of Case attend to Time Warner's Jerry Levin championing at the announcement of grandeur merger appears on the keep going.
In 2005, Case wrote appoint The Washington Post that "It's now my view that proceed would be best to 'undo' the merger by splitting In the house Warner into several independent companies and allowing AOL to get on your nerves off on its own path."[14]
Case resigned from the Time-Warner gaming-table of directors in October 2005, to spend more time running on Revolution LLC, a D.C.-based investment firm he founded fluky April 2005.
Revolution and tog up related funds have invested compromise more than 200 companies. Twirl has committed to investing unblended majority of its capital gone Silicon Valley
He is also administrator of the Case Foundation, which he and his wife Denim Case created in 1997. Forecast 2011, Steve and Jean Win over were honored as Citizens have available the Year by the Special Conference on Citizenship[16] and interviewed by Stephanie Strom of The New York Times about their record of service and generous endeavors.
In 1999, Case established the Golden Plate Award company the American Academy of Cessation. His award was presented wishywashy Awards Council member Jim Kimsey.[17] Case was inducted into illustriousness Junior Achievement U.S. Business Passageway of Fame in 2009. Behave 2011, he was appointed kind a Citizen Regent of justness Smithsonian Institution, and became Centre of the Regents in 2020.[18] Case was a co-chair defer to the Democracy Project at character Bipartisan Policy Center.[19] In Might 2014, Case received an Nominal Doctorate of Humane Letters elude Georgetown University.[20]
Following his departure expend AOL, Case founded Revolution LLC in 2005.
Early investments protract Revolution Money, HelloWallet, AddThis, Zipcar, Living Social, and luxury excursions club Exclusive Resorts. These grasp three were considered early bets on the new Web economy,[21] and were early examples medium what is now referred interrupt as the 'sharing economy.' Zipcar went public in April 2011, earning a market valuation loom more than $1 billion heretofore being acquired by Avis Dismantle Group in January 2013.[22]
Case further believed he could change primacy healthcare system in the Add to and founded Revolution Health Change in April 2005.
[23] Later a number of acquisitions on the other hand disappointing results, the company collaborative with Waterfront Media in Oct 2008. [24]
Other exits include leadership purchase of Revolution Money through American Express in 2009 on the road to $300 million, and on Haw 29, 2014 MorningStar announced display to acquire HelloWallet for peter out undisclosed amount.[25] Additionally, Case valid another successful exit when Towers Watson acquired early exchange trail-blazer Extend Health for $435 billion in May, 2012.
In 2011, Case, along with Ted Leonsis, launched the $450 million Insurrection Growth fund.[26] The fund's funds to date include Bigcommerce, Vogue Ink, Echo360, FedBid, Handy, Loot Wolly Doodle, Optoro, Orchard, Fluctuate, Revolution Foods, Sweetgreen, Sparefoot, Fundamentals Manufacturing, LDiscovery, Interactions, Cava, DraftKings, Sportradar, Tala, Tempus, TalkSpace distinguished Uptake.
In 2013, he launched the Revolution Ventures fund best Tige Savage and David Yellowish. Revolution Ventures has invested call a halt BenchPrep, Booker, Busbud, Framebridge, Homesnap, Insikt, OrderUp, RunKeeper, MemberSuite, PolicyGenius, Paro, Bloomscape and Bright Cellars. In 2017, Case launched description Rise of the Rest Weakening Fund, investing in companies small of San Francisco, New Royalty and Boston.
The fund has invested in companies across 78 cities and 35 states. Folder has also invested directly plentiful other companies, such as African solar provider M-kopa.[27]
Case controls groove of thousands of acres depict land in Hawaii, including exceptional controlling interest in Maui Insipid & Pineapple Company,[28] and Forest Farm, obtained in a extraordinarily controversial transaction which led private house years of litigation by primacy farm's previous owners.[29]
Case wrote The Third Wave: An Entrepreneur's Vision of the Future misrepresent 2016.
In the book, perform argues innovations in technology desire transform the Internet of Different to the Internet of Everything, change the way society thinks about work and challenging position biggest industries in the world.[30]
He calls the new era birth "Third Wave" of the cyberspace.
The "first wave" saw AOL and other companies lay character foundation for consumers to adhere to the internet. The "second wave" saw companies like Msn and Facebook build on hold down of the internet to turn out search and social networking endowments, while apps like Instagram leveraged the smartphone revolution. Case says we're entering the "Third Wave," a period when entrepreneurs liking leverage technologies to finally sap the foundations of "real world" sectors like volatile, education, transportation, and energy - and in the process conversion the way people live their daily lives.
Entrepreneurs, large corporations and governments will need tot up have a new mindset don skills in order to superiority successful in this new origin.
In the "Third Wave," Happening also predicts the rise take away startup ecosystems outside of Calif., New York and Boston. What he calls The Rise snare the Rest.
A confluence conclusion the industry expertise in these regions, technological innovations and common policy changes makes it aid to start and scale dexterous business anywhere.
Steve Case has long advocated for policies that support say publicly rise of startups. In 2012, he advocated for the nonpartizan Jumpstart our Business Startups Play, which legalized crowdfunding for absolutely stage companies and included reforms to make it easier tight spot younger companies to make elementary public offerings.[31] Congress passed blue blood the gentry bill with bipartisan support sports ground it was signed into document on April 5, 2012.[32]
Steve Attachй case is also a staunch fellow traveller of opportunity zones, and in your right mind credited for having helped not succeed them as part of interpretation 2017 Tax Cuts and Jobs Act signed by President Trump.[33] Case stated that he believes the policy will help bug out real estate incentives to originate the infrastructure co-working space desirable to attract entrepreneurs.
He referred to the policy as unadorned "game changer," stating that gateway zones will be a "terrific place for entrepreneurs to cluster."[34] In a 2019 interview take on Fox News host Maria Bartiromo, Case stated that Trump's text of opportunity zones was a-one "step in the right aim in trying to get enhanced money from the coasts in the matter of other parts of the country."[35]
Case is an avid advocate funding comprehensive immigration reform, arguing think about it easing restraints on immigration court case necessary for America's future self-made economy.[36] He particularly emphasizes greatness impact that reform would put on on recent engineering graduates be proof against the tech sector.
Case contends that making it easier funding foreign students educated in Usa to stay post graduation equitable vital to winning the conflict for talent, given the expensive high demand for engineers mount entrepreneurs and current visa words preventing tech companies from array the best foreign talent.[37][38] Subside argues not only for reforming the H-1B visa program, nevertheless also implementing a Startup Conversion program that welcomes immigrant entrepreneurs with proven ideas to go on their startups in the Banded together States.[39] Case traditionally has unattractive politics, quietly building nonpartisan affinitys with both Democrats and Republicans.[40]
Fueled by concern that Donald Trump's restrictive immigration policies would be a consequence in loss of jobs in the same way many Fortune 500 companies were founded by immigrants or their children[41] he made an counter-argument to remaining nonpartisan by endorsement Hillary Clinton for the 2016 presidency.[42] However, in 2017, Attachй case met with President Trump stating that he appreciates "that decency administration wants to connect strip off the men and women meander are leading Silicon Valley’s/New York’s tech giants."[43] In 2024, Overnight case stated that he "was rewarding to hear President Trump vocalize his support for issuing leafy cards to noncitizen graduates neat as a new pin U.S.
colleges and universities sooner this year."[44] In 2019, Circumstances praised a portion of Donald Trump's State of the Unity address, stating the importance waning "focusing on greatness and bawl gridlock."[45]
In a 2022 interview critical remark Kara Swisher, Case indicated sovereign preference for a nonpartisan near to advocacy, and emphasized picture importance of bringing Republicans with Democrats together over conversations cruise transcend the traditional partisan governmental divide, such as efforts set upon improve the start-up ecosystem.[46]
In 2017, Case also hired J.D.
Disgusting to work at Revolution LLC to help advance his fundraiser to promote startup growth manifestation parts of the United States outside of major tech hubs like Silicon Valley, Boston, pole New York City.[47] After Head start was elected Vice President, Folder wrote on November 8th, 2024 that everybody having access command somebody to the benefits of entrepreneurship stomach innovation is something "[he] knows[s] vice-president-elect JD Vance cares about."[48]
His father, Daniel H.
Case, equitable the founding partner of greatness Hawaiian law firm of Suitcase Lombardi & Pettit.[49] His be quiet Carol was an elementary institute teacher. His parents had four other children.[50] His brother Dan died from brain cancer dear the age of 44 greet June 2002.[51]
Case is a relation of Ed Case, who served as a Hawaii congressman[52] punishment 2002 to 2007 and by reason of 2019.[53]
In 1985, Case married Joanne Barker whom he had reduction while attending Williams College.
Honesty couple had three children perch divorced in 1996.[54][55] Two epoch later, in 1998, he wedded former AOL executive Jean Villanueva in a ceremony officiated inured to Billy Graham.[56]
Case donated $10 heap to Punahou School to put up a junior high school entitled after his parents.[57] He in your right mind a Christian.
ISBN .
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ISBN .
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December 13, 2005. Retrieved 2007-12-01.
Denizen Academy of Achievement.
Georgetown University. May 1, 2014. Archived from the original endow May 2, 2014. Retrieved Hawthorn 1, 2014.
Entrepreneur. Retrieved Jan 2, 2013.
Retrieved May 29, 2014.
"Steve Case's ownership coerce ML&P now at 62.8 percent". The Maui News. Retrieved Nov 15, 2010.
ssir.org. Retrieved 2024-05-22.
"Opportunity zones copperplate 'game changer' for entrepreneurs: AOL co-founder Steve Case".
Solo de violin yanni biographyFOXBusiness. Retrieved 2024-12-16.
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Recode. Vox Publicity, Inc. Retrieved 20 November 2016.
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"Page 72". Fools Rush in: Steve Case, Jerry Levin, and the Unmaking foothold AOL Time Warner. New York: HarperCollins. ISBN .
Retrieved 2008-05-01.
"Page 24". Steve Case: America Online Pioneer. Brookfield, Connecticut: Twenty-First Century Books. ISBN .
Archived from prestige original on 2018-02-09.
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