Notes
Outline
Shelby Bonnie
By Leslie Williams
Education Background...
Bachelor of Science in commerce, with distinction from University of Virginia
MBA from Harvard Business School
Winner of the Rollins Award for overall contribution to Harvard
Business Background...
Mergers and acquisitions at Morgan Stanley & Co.
Managing Director at Tiger Management LLC
1992 - 1997: CNET Chief Financial Officer
1992: Vice Chairman
1997 - 2000: Chief Operating Officer
2000 - present: Chief Executive Officer
Chronology
April 1995: “CNET Central” aired on USA
1995: Snap! Was created
1996: CNET went public and launched “The Web” and “TV.COM”
1997: a web version of the E! channel was created
May 1998: CNET acquired U.Vision
June 1998: Snap! Merged with Xoom.com
February 1999: CNET acquired AuctionGate Interactive, Inc. and NetVenture (which owns ShopBuilder- a system that creates online stores)
March 1999: Purchase of KillerApp Corp (which owns Killerapp.com- an online comparison-shopping service for computers and other consumer electronics
Chronology (continued)
June 1999: CNET launched a nation-wide name recognition campaign
January 2000: CNET made a deal with AMFM Inc. to co-brand radio stations and and all-tech radio network
March 2000: CNET acquired mySimon.com and renamed CNET to CNET Networks, Inc.
June 2000: AP and CNET agreement to share news and content
July 2000: CNET acquired Apollo Solutions Inc. and Ziff-Davis
Purchase of Ziff-Davis
Purchase price was approximately $1.6 billion in stock
Created one of the world’s top producers of technology information
Together they will become a top 10 online site based on monthly unique users
On Ziff-Davis Purchase...
Author Michelle Rafter wrote, “It’s the kind of event that has led investors, recruiters and management experts to tap Bonnie as a top dot-com executive, recognized for his operations skill and fiscal responsibility.”
Facts
CNET earned $416.9 million on revenue of $112.3 million
CNET’s revenue was $96.6 million in the first half of 2000, but lost $48.3 million
Investment stake worth$403 million last year… earning enough for Fortune to include him in the 1999 annual listing of the richest executives in the country under 40 years old
Management Philosophy
“You can’t know everything. You have to rely on a smart team doing the right things. As a leader, you provide focus and confidence.”