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What is Eric Bauman’s Net Worth?
Eric Bauman is an American web entrepreneur who has a net worth of $5 million. Eric Bauman is greatest recognized for being the founder and former proprietor of the humor web site eBaum’s World. Founded in 2001 when he was nonetheless in highschool eBaum’s World was one of many largest non-adult video websites on the web at its peak, roughly 2003 – 2005. A precursor to YouTube, Bauman was accused of infringing on copyrights by dozens of people and companies, together with Viacom, Something Awful, Break.com and YTMND.com. Before the sale, the web site was set to encourage a brand new TV present with USA and Fox that shortly grew to become embroiled in controversy. Later, G4 TV’s “Web Soup” teamed up with the positioning to create the third season of “This Week in FAIL.” At the positioning’s peak, Bauman signed ebook offers and licensing offers to supply content material to cell telephones. The enterprise at one level employed roughly 30 folks working out of Nineteenth-century farmhouse in Rochester, NY.
Eric owned the positioning alongside facet his father Neil Bauman via 2007 when it was acquired by an organization known as HandHeld Entertainment.
Today eBaum’s World is owned by Literally Media, which additionally owns Know Your Meme, Cracked.com and Cheezburger.
HandHeld Acquisition
In August 2007 Eric and Neil reached a deal to promote eBaum’s World to an organization known as HandHeld Entertainment, which was owned by dad or mum firm ZVUE Corporation. HandHeld was partially owned by Carl Page, the brother of Google co-founder Larry Page.
In the 12 months previous to the sale, eBaum’s World generated $5.2 million in income and $1.6 million in revenue.
Eric and Neil reportedly offered eBaum’s World for $17.5 million, which was paid as $2.5 million value of then-publicly traded HandHeld inventory + $15 million in money. If these numbers are correct, Neil and Eric as co-owners would have every obtained $7.5 million pre-tax, roughly $4 million after tax.
They had been additionally set to obtain considerably extra money within the type of bonuses and earnouts. The earnout complete might have reached as a lot as $52.5 million over a 3 12 months interval if varied targets had been met.
Firing
Unfortunately, neither Eric, nor Neil obtained considerably any extra money from HandHeld. Within six months, Bauman claimed he had been fired by ZVUE Corporation alongside together with his unique workers members. He additionally accused the brand new homeowners of constant to make use of his likeness with a purpose to make it seem that he was nonetheless affiliated with the web site.
Not lengthy after being fired, Eric launched a brand new website known as ebaum.television which is not operable.
Neil Bauman Bankruptcy
In July 2015 Neil Bauman, a former monetary planner, reportedly filed for Chapter 7 chapter. Neil had apparently used a lot of his eBaum earnings through the years to spend money on property in Rochester, NY, the place the corporate was initially headquartered and the place the Bauman family lived. Unfortunately, lots of the industrial actual property belongings had been acquired previous to the 2008 financial disaster, and the wake of the monetary upheaval put Bauman on his heels, financially.
Better Than Pants LLC
In September 2006, Eric based an organization known as Better Than Pants LLC which sells humorous t-shirts. At one level the enterprise additionally operated a retailer in Webster, NY.
AllAutomobiles.com
In August 2019, Eric based AllAutomobiles.com, a web site the place folks should buy and promote automobiles.
All web worths are calculated utilizing information drawn from public sources. When supplied, we additionally incorporate non-public suggestions and suggestions obtained from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as attainable, except in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
