The Top Entrepreneurs
Has there ever been a better time to be an entrepreneur? Certainly not for those
connected in any way, shape, or form to the Net. From Boston to Silicon Valley to
the Far East, those entrepreneurs who were clever enough to tap into one of the
biggest business booms ever have seen their fortunes snowball. But plenty are also
succeeding outside of cyberspace. For entrepreneurs everywhere, good ideas and the
energy and knowhow to pursue them were the keys to success in 1998.
NAME YOUR PRICE
-- Who ever thought an online garage sale could be worth $12 billion? Not
PIERRE OMIDYAR, 31, who started his Net auction service, eBay, to help his
girlfriend collect Pez candy dispensers. MEG WHITMAN, 42, who was
managing Hasbro's Playskool and Mr. Potato Head lines, joined as CEO in
'98. Her big company business smarts and marketing skills smoothed the way
for eBay's September IPO. With '98 earnings before charges expected to hit
$5.9 million on $36 million in sales, shares have rocketed more than 1,500%.
A KEEN SENSE OF SITE
-- DAVID S. WETHERELL, 44, has a knack for spotting Net companies with
staying power. His CMGI Inc. is a Web holding company with controlling
stakes in such hugely popular sites as Lycos and GeoCities. He picks 'em
early and guides their growth. All together, his 31 ventures rank No. 2 in
Internet traffic, trailing only Yahoo! That kind of reach, plus a $39 million profit
for the fourth quarter, pushed CMGI stock up 693% in '98, to 120.
RUNNING WILD
-- Four years ago, HELEN ROCKEY, now 42, left Nike to become CEO of
money-losing Brooks Sports. She has quickly returned the running-shoe
maker to the black, while doubling sales to roughly $65 million in '98. Her
secret? Innovative shoes with more cushion and support, and grassroots
marketing. By backing popular local mountain biking and running events, she
figures to double sales again by 2001.
VIRUS HUNTER
-- Somewhere out there, cyber-vandals are hatching new computer viruses.
And STEVE CHANG, 44, is ready for them. His Tokyo-based Trend Micro is a
leader in the explosive global market for protecting network servers against
viruses. Already No. 1 in Asia, it also makes software for Sun Microsystems
and Netscape. Trend Micro's '98 sales should hit $93 million, up 52%, with
profits up 50%, to $15 million. Chang got into file protection after software
pirates ripped him off. They should have left him alone.
PROFESSOR PROFIT
-- At 78, JOHN SPERLING is Mr. Adult Education. The former San Jose State
University prof has built an empire catering to the needs of older students. His
Apollo Group, which runs the for-profit University of Phoenix, boasts 74,500
students, all over 23. Don't expect ivy-covered towers. Students come to his
119 campuses in 31 states because classes run year-round--at night--and
can be finished in six weeks. Over the last two years, earnings have more
than doubled, to $46.3 million, on sales up 83%, to $391 million. For the year
ending next August, growth should continue at around 30%.
WEB MASTERS
-- If the future is watching TV and holding meetings over the Internet, then
MARK CUBAN, 40, and TODD R. WAGNER, 38, are already there.
Three-year-old broadcast.com gives Web surfers around the globe easy
access to hundreds of radio and TV stations. They can also receive CDs,
videos, and audio books. But most important to its growth are the surging
numbers of companies paying up to $350,000 to broadcast meetings over the
system. With usage jumping 30% every three months, its shares have soared
380% since its July 17 IPO. |
