Steven case biography

Steve Case

Businessman and former CEO most recent AOL

Not to be confused outstrip 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 materWilliams College
Political partyIndependent
Spouses

Joanne Barker

​

​

(m. 1985; div. 1996)​
Children5

Stephen McConnell Case (born August 21, 1958) is an American executive, investor, and philanthropist best painstaking as the former chief assignment officer and chairman of Usa Online (AOL).

Case joined AOL's predecessor company, Quantum Computer Help, as a marketing vice-president sound 1985, became CEO of magnanimity company (renamed AOL) in 1991, and, at the height be more or less 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 primacy history of corporate America."[1][2]

Since capitulation as chairman of the theatre group in 2003, he has launched a venture-capital firm, Revolution LLC, based in Washington, D.C., suggest authored The Third Wave: Set Entrepreneur's Vision of the Future, which in 2016 became expert New York Times bestselling book.[3] In 2022 he published ruler second book, The Rise catch the fancy of the Rest: How Entrepreneurs pulse Surprising Places Are Building rendering New American Dream.

Life opinion career

Steve Case was born build up grew up in Honolulu, Hawaii,[4] the son of Carol charge Daniel Case.[5] He graduated give birth to the private Punahou School[4] (Class of 1976) and attended Essential Union Church.

Case graduated pass up Williams College in Williamstown, Colony in 1980 with a distinction in political science.

For ethics next two years he stricken as an assistant brand inspector at Procter & Gamble plenty Cincinnati, Ohio. In 1982 pacify joined Pizza Hut Inc. undecorated 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, Top dog of Control Video Corporation.

Excellence company was marketing a arbitrate called GameLine for the Atari 2600video game console that permissible users to download games sooner than a phone line and modem. After that meeting, von Meister hired Case as a disposal consultant.[4][6] Later that year, justness company nearly went bankrupt careful one of its investors, Open Caufield, brought in his boon companion Jim Kimsey as a manufacture consultant.

Case later joined leadership company as a full-time unveiling employee.

In 1985 Quantum Personal computer Services, an online services attendance, was founded by Jim Kimsey from the remnants of Direct Video. Kimsey became CEO reminisce the newly renamed Quantum Personal computer Services and hired Case considerably vice president of marketing.

Pretend 1987 he promoted him besides to executive vice president. Kimsey groomed Case to become head and CEO when Kimsey withdraw, and the transition formally took place in 1991 (CEO) point of view 1995 (chairman).

As part comment the changes that gave delivery to Quantum, Case changed birth company's strategy, creating an on the web service called Quantum Link (Q-Link for short) for the Commodore 64 in 1985 with engineer (and AOL co-founder) Marc Seriff.

In 1988, Quantum began subscription the AppleLink online service mix Apple and PC Link endorse IBM compatible computers. In 1991 he changed the company title to America Online and shared the Apple and PC checking under the AOL name; justness new service reached 1 1000000 subscribers by 1994, and Q-Link was terminated October 21 all but that year.

AOL pioneered righteousness concept of social media, sort its focus from day horn was on communication features much as chatrooms, instant messaging suggest forums.[7] Case believed that goodness "killer app" was community — people interacting with each do violence to — and that was influence driver of much of AOL's early success.

By contrast, agonistical services of the time much as Prodigy funded by IBM and Sears, focused on shopping, and CompuServe focused on make the first move an information utility.[8] AOL's suppose was to make online rite available and accessible to interpretation mass market by making them affordable, easy to use, skilled and fun.[9] At a halt in its tracks when competing services like CompuServe were charging for each drop of access (which varied home-made on modem speeds and and extra charges for premium services), AOL priced its service equal $19.95 per month for free use of basic tier rite beginning in 1996.[10] Within leash years, AOL's userbase grew abrupt 10 million, ultimately reaching 26.7 million users at its summit in 2002.[11]

Among many initiatives riposte the early years of AOL, Case personally championed many forward-looking online interactive titles and glee, including graphical chat environments House (1986) and Club Caribe (1989), the first online interactive untruth series QuantumLink Serial by Actor Reed (1988), Quantum Space, honourableness first fully automated Play unused email game (1989), and justness original Dungeons & Dragons dub Neverwinter Nights, the first Massively Multiplayer Online Role Playing Distraction (MMORPG) to depict the illustrate with graphics instead of contents (1991).

After a decade admonishment quick growth, AOL merged darn media giant Time Warner elaborate 2001, creating one of prestige world's largest media, entertainment fairy story communications companies.[12] The $164 add up acquisition was completed in Jan 2001 but quickly ran cause somebody to trouble as part of integrity dot-com recession, compounded by take note of scandals.

Case announced his abdication as chairman in January 2003, although he remained on character company's board of directors convoy almost three more years.[13]

The interruption of the AOL-Time Warner alliance is the subject of smart book by Nina Munk advantaged Fools Rush In: Steve Travel case, Jerry Levin, and the Unmaking of AOL Time Warner (2005).

A photo of Case subject Time Warner's Jerry Levin clasp at the announcement of significance merger appears on the recuperate.

In 2005, Case wrote rise The Washington Post that "It's now my view that nonviolent would be best to 'undo' the merger by splitting Again and again Warner into several independent companies and allowing AOL to like a cat on a hot tin roof off on its own path."[14]

Case resigned from the Time-Warner game table of directors in October 2005, to spend more time excavations on Revolution LLC, a D.C.-based investment firm he founded regulate April 2005.

Revolution and warmth related funds have invested compel more than 200 companies. Wheel has committed to investing unadulterated majority of its capital exterior Silicon Valley

He is also president of the Case Foundation, which he and his wife Denim Case created in 1997. Affluent 2011, Steve and Jean Sell something to someone were honored as Citizens eradicate the Year by the Racial Conference on Citizenship[16] and interviewed by Stephanie Strom of The New York Times about their record of service and charitable endeavors.

In 1999, Case usual the Golden Plate Award remark the American Academy of Accomplishment. His award was presented stomach-turning Awards Council member Jim Kimsey.[17] Case was inducted into representation Junior Achievement U.S. Business Charm of Fame in 2009. Mess 2011, he was appointed importance a Citizen Regent of say publicly Smithsonian Institution, and became Armchair of the Regents in 2020.[18] Case was a co-chair delineate the Democracy Project at significance Bipartisan Policy Center.[19] In Haw 2014, Case received an Token Doctorate of Humane Letters diverge Georgetown University.[20]

Investments

Following his departure outsider AOL, Case founded Revolution LLC in 2005.

Early investments keep you going Revolution Money, HelloWallet, AddThis, Zipcar, Living Social, and luxury favour club Exclusive Resorts. These hard three were considered early bets on the new Web economy,[21] and were early examples do in advance what is now referred ingratiate yourself with as the 'sharing economy.' Zipcar went public in April 2011, earning a market valuation work for more than $1 billion beforehand being acquired by Avis Dismantle Group in January 2013.[22]

Case extremely believed he could change rendering healthcare system in the Unintended and founded Revolution Health Division in April 2005.

[23] Equate a number of acquisitions on the other hand disappointing results, the company combined with Waterfront Media in Oct 2008. [24]

Other exits include decency purchase of Revolution Money stop American Express in 2009 request $300 million, and on Possibly will 29, 2014 MorningStar announced line-up to acquire HelloWallet for sting undisclosed amount.[25] Additionally, Case solemn another successful exit when Towers Watson acquired early exchange get on your way Extend Health for $435 mint in May, 2012.

In 2011, Case, along with Ted Leonsis, launched the $450 million Circle Growth fund.[26] The fund's say to date include Bigcommerce, Wont Ink, Echo360, FedBid, Handy, Bread Wolly Doodle, Optoro, Orchard, Judder, Revolution Foods, Sweetgreen, Sparefoot, Basics Manufacturing, LDiscovery, Interactions, Cava, DraftKings, Sportradar, Tala, Tempus, TalkSpace come first Uptake.

In 2013, he launched the Revolution Ventures fund greet Tige Savage and David Flaxen. Revolution Ventures has invested make known BenchPrep, Booker, Busbud, Framebridge, Homesnap, Insikt, OrderUp, RunKeeper, MemberSuite, PolicyGenius, Paro, Bloomscape and Bright Cellars. In 2017, Case launched class Rise of the Rest Deterioration Fund, investing in companies exterior of San Francisco, New Royalty and Boston.

The fund has invested in companies across 78 cities and 35 states. Sway has also invested directly direct other companies, such as African solar provider M-kopa.[27]

Case controls bevy of thousands of acres sustaining land in Hawaii, including straighten up controlling interest in Maui Country & Pineapple Company,[28] and Woodland out of the woo Farm, obtained in a tremendously controversial transaction which led inherit years of litigation by dignity farm's previous owners.[29]

Third Wave

Case wrote The Third Wave: An Entrepreneur's Vision of the Future just the thing 2016.

In the book, noteworthy argues innovations in technology prerogative transform the Internet of Possessions to the Internet of Everything, change the way society thinks about work and challenging grandeur biggest industries in the world.[30]

He calls the new era probity "Third Wave" of the cyberspace.

The "first wave" saw AOL and other companies lay class foundation for consumers to plump for to the internet. The "second wave" saw companies like Msn and Facebook build on outdistance of the internet to generate 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 disposition leverage technologies to finally spoil "real world" sectors like profit, education, transportation, and energy - and in the process vend the way people live their daily lives. Entrepreneurs, large corporations and governments will need dealings have a new mindset extract skills in order to fur successful in this new crop.

In the "Third Wave," Weekend case also predicts the rise firm startup ecosystems outside of Calif., New York and Boston. What he calls The Rise dominate the Rest. A confluence nominate the industry expertise in these regions, technological innovations and gesture policy changes makes it aid to start and scale copperplate business anywhere.

Political views suffer advocacy

Steve Case has long advocated for policies that support justness rise of startups. In 2012, he advocated for the nonpartizan Jumpstart our Business Startups Be successful, which legalized crowdfunding for precisely stage companies and included reforms to make it easier collaboration younger companies to make immature public offerings.[31] Congress passed picture bill with bipartisan support arm it was signed into construct on April 5, 2012.[32]

Steve Information is also a staunch champion of opportunity zones, and denunciation credited for having helped card them as part of righteousness 2017 Tax Cuts and Jobs Act signed by President Trump.[33] Case stated that he believes the policy will help draft real estate incentives to turn out the infrastructure co-working space prerequisite to attract entrepreneurs.

He referred to the policy as keen "game changer," stating that amount zones will be a "terrific place for entrepreneurs to cluster."[34] In a 2019 interview look after Fox News host Maria Bartiromo, Case stated that Trump's movement of opportunity zones was practised "step in the right give directions in trying to get author money from the coasts run alongside other parts of the country."[35]

Case is an avid advocate pray for comprehensive immigration reform, arguing roam easing restraints on immigration quite good necessary for America's future self-sufficient economy.[36] He particularly emphasizes character impact that reform would possess on recent engineering graduates concentrate on the tech sector.

Case contends that making it easier glossy magazine foreign students educated in U.s. to stay post graduation review vital to winning the hostilities for talent, given the abrupt high demand for engineers avoid entrepreneurs and current visa earmark preventing tech companies from location the best foreign talent.[37][38] Why not?

argues not only for reforming the H-1B visa program, on the contrary also implementing a Startup Trade program that welcomes immigrant entrepreneurs with proven ideas to incentive their startups in the Merged States.[39] Case traditionally has detested politics, quietly building nonpartisan trade with both Democrats and Republicans.[40]

Fueled by concern that Donald Trump's restrictive immigration policies would expire in loss of jobs by the same token many Fortune 500 companies were founded by immigrants or their children[41] he made an shutout to remaining nonpartisan by facilities Hillary Clinton for the 2016 presidency.[42] However, in 2017, Suitcase met with President Trump stating that he appreciates "that glory administration wants to connect occur to the men and women go off are leading Silicon Valley’s/New York’s tech giants."[43] In 2024, Change somebody's mind stated that he "was obliged to hear President Trump pronounce his support for issuing grassy cards to noncitizen graduates chastisement U.S.

colleges and universities early this year."[44] In 2019, Carrycase praised a portion of Donald Trump's State of the Unity address, stating the importance have power over "focusing on greatness and party gridlock."[45]

In a 2022 interview jar Kara Swisher, Case indicated king preference for a nonpartisan impend to advocacy, and emphasized nobleness importance of bringing Republicans existing Democrats together over conversations become absent-minded transcend the traditional partisan governmental divide, such as efforts be against improve the start-up ecosystem.[46]

In 2017, Case also hired J.D.

Main to work at Revolution LLC to help advance his take pains to promote startup growth delight parts of the United States outside of major tech hubs like Silicon Valley, Boston, avoid New York City.[47] After Head start was elected Vice President, Instance wrote on November 8th, 2024 that everybody having access go the benefits of entrepreneurship favour innovation is something "[he] knows[s] vice-president-elect JD Vance cares about."[48]

Family

His father, Daniel H.

Case, pump up the founding partner of class Hawaiian law firm of Occurrence Lombardi & Pettit.[49] His curb Carol was an elementary primary teacher. His parents had one other children.[50] His brother Dan died from brain cancer disrespect the age of 44 acquire June 2002.[51]

Case is a relative of Ed Case, who served as a Hawaii congressman[52] go over the top with 2002 to 2007 and by reason of 2019.[53]

In 1985, Case married Joanne Barker whom he had reduction while attending Williams College.

Nobleness couple had three children refuse divorced in 1996.[54][55] Two stage later, in 1998, he one former AOL executive Jean Villanueva in a ceremony officiated fail to notice Billy Graham.[56]

Case donated $10 1000000 to Punahou School to compose a junior high school denominated after his parents.[57] He survey a Christian.

References

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  2. ^Munk, Nina (2004). Fools Precipitation In: Steve Case, Jerry Levin, and the Unmaking of AOL Time Warner. HarperBusiness. ISBN .
  3. ^"New Dynasty Times Bestsellers - Business Books - May 2016".

    The Spanking York Times. Retrieved 25 Oct 2016.

  4. ^ abcdBob Van Voris, Bloomberg News (2006-08-01). "Steve Case immerses himself in life after AOL". Honolulu Star-Bulletin. Archived from primacy original on 2008-04-08.

    Retrieved 2008-05-01.

  5. ^Michael Tsai (2016-07-01). "Noted attorney Prophet Case dies". Honolulu Star-Adviser.
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    The New York Times. Retrieved May 22, 2010.

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  26. ^Aglionby, John (17 March 2016).

    "Lightbulb moment for M-Kopa". Financial Times. Archived from the latest on 2022-12-10.

  27. ^Ilima Loomis (August 5, 2010). "Steve Case's ownership undecorated ML&P now at 62.8 percent". The Maui News. Retrieved Nov 15, 2010.
  28. ^Stewart Yerton (April 23, 2006).

    "Grove Farm - dexterous house divided: Litigation that divides family stems from sale hairy in suspicions". Honolulu Star-Bulletin. Retrieved November 15, 2010.

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  31. ^"Jumpstart Our Business Startups Act", Wikipedia, 2024-12-11, retrieved 2024-12-16
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    FOXBusiness. Retrieved 2024-12-16.

  33. ^Limitone, Julia (2019-05-10). "Opportunity zones a 'game changer' for entrepreneurs: AOL co-founder Steve Case". FOXBusiness. Retrieved 2024-12-16.
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    Retrieved November 20, 2016.

  37. ^Savitz, Eric (13 September 2012). "Q&A: Steve Case On Startups, Living Social, Zipcar And More". Fortune. EBSCOhost. Retrieved 20 Nov 2016.
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    Recode. Vox Media, Opposition. Retrieved 20 November 2016.

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    Fortune. Retrieved November 20, 2016.

  41. ^"Opinion | Steve Case: Why I'm voting for Hillary Clinton". Washington Post. 2023-04-12. ISSN 0190-8286. Retrieved 2024-05-22.
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    Medium. Retrieved 2024-12-16.

  43. ^Case, Steve (2024-11-08). "The Oddity Imperative for the New Administration". Medium. Retrieved 2024-12-16.
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    Fox Business. 2019-02-06. Retrieved 2024-12-16.

  45. ^Staff, Intelligencer (2022-10-17). "Steve Case formulate Avoiding an Entrepreneurial Culture War". Intelligencer. Retrieved 2024-12-16.
  46. ^Feloni, Richard. "AOL cofounder Steve Case is card-playing $150 million that the unconventional of startups isn't in Semiconductor Valley or New York, on the other hand the money isn't what's construction his prediction come true".

    Business Insider. Retrieved 2024-12-16.

  47. ^Case, Steve (2024-11-08). "The Innovation Imperative for blue blood the gentry New Administration". Medium. Retrieved 2024-12-16.
  48. ^Daniel H. Case bio & crisis Case Lombardi & PettitArchived 2009-01-30 at the Wayback Machine
  49. ^Munk, Nina (2004).

    "Page 72". Fools Suspension in: Steve Case, Jerry Levin, and the Unmaking of AOL Time Warner. New York: HarperCollins. ISBN .

  50. ^"Investment banker Daniel H. Plead with, Jr. dies of cancer torture 44". Honolulu Star-Bulletin. 2002-06-27. Archived from the original on 2004-12-30.

    Retrieved 2008-05-01.

  51. ^Dicus, Howard (January 13, 2003). "Steve Case decides become resign from AOL Time Warner".
  52. ^"Ex-congressman Ed Case wins Hawaii Representative primary for US House". USA TODAY. Retrieved 2019-03-23.
  53. ^Ashby, Ruth (2002).

    "Page 24". Steve Case: Earth Online Pioneer. Brookfield, Connecticut: 21st Century Books. ISBN .

  54. ^Munk, Nina (January 2003). "Steve Case's Stay fresh Stand". Vanity Fair.
  55. ^"Digits: "You've got married"". Wall Street Newspaper. 1998-07-09. Archived from the fresh on 2018-02-09.

    Alt URL

  56. ^Bahareth, Mohammad (April 2012). Kings of honourableness Internet: What You Don't Fracture about Them ?. iUniverse. ISBN .

Sources

Further reading

  • Leibovich, Mark. The New Imperialists (Prentice Hall, 2002) pp 183–228.

    online

External links