Gary Kremen
Encyclopedia
Gary Alan Kremen is an entrepreneur who founded personals site match.com
, and registered several premiere domain names in the early days of the internet, including sex.com
, jobs.com, Housing.com , and autos.com. Born in the Chicago area, he graduated Niles West High School in 1981, then graduated with bachelor's degrees in electrical engineering and computer science from Northwestern University
in 1985, and an MBA
from Stanford University in 1989.
Kremen, who was using the Internet as early as 1985, launched software firm Los Altos Technology after graduating from Stanford in 1989, and headed the company until late 1992.
In 1993, Kremen founded Electric Classifieds, Inc. the first company to bring classified ads to the internet. Funded by private investors in November 1994, he launched online personals service match.com
in April 1995. After troubles with venture capitalists over his insistence that the Company serve profitable alternative market segments including the gay market, he left match.com in March 1996, remaining on the board of Electric Classifieds. Over Kremen's objections, match.com
was sold to Cendant Corporation
for $7 million in 1998, and sold by Cendant to Ticketmaster
a year and a half later for $50 million, with Kremen retaining a lifetime account on match.com.
From 1995 to 1996, Kremen founded and served as president of NetAngels.com, Inc., an internet profiling and personalization company that suggested web sites to users. He left when NetAngels merged with Boston personalization software firm Firefly Network, Inc.
in 1997, and Firefly was sold to Microsoft in 1998 in a reported $40 million deal.
In 1999, he was listed as an equity-holding officer or director of Brightcube Inc.
Kremen is credited as a primary inventor on a 1995-filed patent for dynamic web page
s, US patent number 5706434, which he later sold for over $1,250,000.
A 2007 New York Times article on "millionaires who don't feel rich" reported that Kremen estimated his net worth at $10 million.
Kremen currently resides in San Francisco Bay Area, California. He is the founder of residential solar financing start-up Clean Power Finance, Inc. which raised $6.9m from investors in January 2010, $25m for Kleiner Perkins and $75m from Google in September 2011. He is the founding investor and also a board member of CrowdFlower as well as several other companies . He is listed at the Founder and CEO of Sociogramics, Inc. in his LinkedIn Profile
sex.com
in 1994.
In 1996 Stephen M. Cohen
, contacted Network Solutions
and fraudulently had the domain transferred to his name.
Kremen took the matter to the courts where he struggled to make a case, on limited resources, against Cohen's multi-million dollar pornography
empire.
In the meantime, however, Cohen had profited vastly through the property and Kremen tried to wrest back some of these profits through further court action. He was awarded a judgment of $65 million against Cohen, including Cohen's Rancho Santa Fe mansion in which he lives. Kremen also successfully litigated against Network Solutions
.
Cohen fled to Mexico
and moved the money offshore.
On October 28, 2005, the Los Angeles Times
reported that Cohen had been arrested in Mexico and turned over to US Authorities.
Kremen sold sex.com in 2006 to Boston-based Escom LLC for $15 million in cash and stock, and sold sex.net for $454,500 later that year.
Match.com
Match.com is an online dating company which reportedly has more than 20 million members, made up of a 49/51 male/female ratio, and Web sites serving 25 countries in more than 8 different languages. Its headquarters are in Dallas, Texas and the company also has offices in West Hollywood, Tokyo, Rio,...
, and registered several premiere domain names in the early days of the internet, including sex.com
Sex.com
Sex.com is an Internet domain name and web portal currently owned by Clover Holdings LTD. The domain name was the focus of one of the most publicized legal actions about ownership of domain names...
, jobs.com, Housing.com , and autos.com. Born in the Chicago area, he graduated Niles West High School in 1981, then graduated with bachelor's degrees in electrical engineering and computer science from Northwestern University
Northwestern University
Northwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
in 1985, and an MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
from Stanford University in 1989.
Kremen, who was using the Internet as early as 1985, launched software firm Los Altos Technology after graduating from Stanford in 1989, and headed the company until late 1992.
In 1993, Kremen founded Electric Classifieds, Inc. the first company to bring classified ads to the internet. Funded by private investors in November 1994, he launched online personals service match.com
Match.com
Match.com is an online dating company which reportedly has more than 20 million members, made up of a 49/51 male/female ratio, and Web sites serving 25 countries in more than 8 different languages. Its headquarters are in Dallas, Texas and the company also has offices in West Hollywood, Tokyo, Rio,...
in April 1995. After troubles with venture capitalists over his insistence that the Company serve profitable alternative market segments including the gay market, he left match.com in March 1996, remaining on the board of Electric Classifieds. Over Kremen's objections, match.com
Match.com
Match.com is an online dating company which reportedly has more than 20 million members, made up of a 49/51 male/female ratio, and Web sites serving 25 countries in more than 8 different languages. Its headquarters are in Dallas, Texas and the company also has offices in West Hollywood, Tokyo, Rio,...
was sold to Cendant Corporation
Cendant
Cendant Corporation was a New York-based provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, Cendant broke up and spun off or sold its constituent businesses...
for $7 million in 1998, and sold by Cendant to Ticketmaster
Ticketmaster
Ticketmaster Entertainment, Inc. is an independent American ticket sales and distribution company based in West Hollywood, California, USA, with operations in many countries around the world. In 2010 it merged with Live Nation to become Live Nation Entertainment...
a year and a half later for $50 million, with Kremen retaining a lifetime account on match.com.
From 1995 to 1996, Kremen founded and served as president of NetAngels.com, Inc., an internet profiling and personalization company that suggested web sites to users. He left when NetAngels merged with Boston personalization software firm Firefly Network, Inc.
Firefly (website)
Firefly Network, Inc. was founded in March 1995 by a group of engineers from MIT Media Lab and some business people from Harvard Business School, including Pattie Maes , Upendra Shardanand, Nick Grouf, Max Metral, David Waxman and Yezdi Lashkari...
in 1997, and Firefly was sold to Microsoft in 1998 in a reported $40 million deal.
In 1999, he was listed as an equity-holding officer or director of Brightcube Inc.
Kremen is credited as a primary inventor on a 1995-filed patent for dynamic web page
Dynamic web page
A dynamic web page is a kind of web page that has been prepared with fresh information , for each individual viewing. It is not static because it changes with the time , the user , the user interaction , the context A dynamic web page is a kind of web page that has been prepared with fresh...
s, US patent number 5706434, which he later sold for over $1,250,000.
A 2007 New York Times article on "millionaires who don't feel rich" reported that Kremen estimated his net worth at $10 million.
Kremen currently resides in San Francisco Bay Area, California. He is the founder of residential solar financing start-up Clean Power Finance, Inc. which raised $6.9m from investors in January 2010, $25m for Kleiner Perkins and $75m from Google in September 2011. He is the founding investor and also a board member of CrowdFlower as well as several other companies . He is listed at the Founder and CEO of Sociogramics, Inc. in his LinkedIn Profile
Sex.com saga
Kremen first registered the domain nameDomain name
A domain name is an identification string that defines a realm of administrative autonomy, authority, or control in the Internet. Domain names are formed by the rules and procedures of the Domain Name System ....
sex.com
Sex.com
Sex.com is an Internet domain name and web portal currently owned by Clover Holdings LTD. The domain name was the focus of one of the most publicized legal actions about ownership of domain names...
in 1994.
In 1996 Stephen M. Cohen
Stephen M. Cohen
Stephen Michael Cohen is an American who gained notoriety after acquiring control of the domain name Sex.com in 1995. He was later implicated in involvement in running the controversial peer-to-peer service EarthStation 5....
, contacted Network Solutions
Network Solutions
Network Solutions, LLC is a technology company founded in 1979. The domain name registration business has become the most important division of the company. As of January 2009, Network Solutions managed more than 6.6 million domain names.-History:...
and fraudulently had the domain transferred to his name.
Kremen took the matter to the courts where he struggled to make a case, on limited resources, against Cohen's multi-million dollar pornography
Pornography
Pornography or porn is the explicit portrayal of sexual subject matter for the purposes of sexual arousal and erotic satisfaction.Pornography may use any of a variety of media, ranging from books, magazines, postcards, photos, sculpture, drawing, painting, animation, sound recording, film, video,...
empire.
In the meantime, however, Cohen had profited vastly through the property and Kremen tried to wrest back some of these profits through further court action. He was awarded a judgment of $65 million against Cohen, including Cohen's Rancho Santa Fe mansion in which he lives. Kremen also successfully litigated against Network Solutions
Network Solutions
Network Solutions, LLC is a technology company founded in 1979. The domain name registration business has become the most important division of the company. As of January 2009, Network Solutions managed more than 6.6 million domain names.-History:...
.
Cohen fled to Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
and moved the money offshore.
On October 28, 2005, the Los Angeles Times
Los Angeles Times
The Los Angeles Times is a daily newspaper published in Los Angeles, California, since 1881. It was the second-largest metropolitan newspaper in circulation in the United States in 2008 and the fourth most widely distributed newspaper in the country....
reported that Cohen had been arrested in Mexico and turned over to US Authorities.
Kremen sold sex.com in 2006 to Boston-based Escom LLC for $15 million in cash and stock, and sold sex.net for $454,500 later that year.
External links
- Gary Kremen's Home Page
- Gary Kremen's current position as CEO of Clean Power Finance
- An archive of articles on the Sex.com case
- Wired article on Match.Com and Gary Kremen
- 1997 Forbes Article on Gary Kremen
- "Sex.com" news article on the court case - The Guardian Newspaper
- News article on Kremen's sale
- DNJournal: The Continuing Saga of Gary Kremen and Sex.com
- The Prisoner of Sex.Com
- The Sex.Com Chronicles, A White-Hat Lawyer's Journey to the Dark Side of the Internet