This 20-Year-Old Emailed Mark Cuban, Got $350K — Now His Company Is Worth $4.6 Billion

A cold email to billionaire Mark Cuban by Aaron Levie, co-founder cloud storage and file-sharing business Box, was the catalyst for the company’s current valuation of $4.6 billion.

What Happened: Back in 2005, Levie, then a University of Southern California student, was on the hunt for funding for his startup. He took the initiative to send cold emails to potential investors, including Cuban.

Within a few hours, Cuban replied, suggesting a partnership on a data-hosting project. This idea later evolved, and Cuban invested $350,000 in Box without ever meeting the co-founders face-to-face.

This investment marked a significant milestone for Box, encouraging Levie to leave college and dedicate his full attention to the company.

Levie’s pitch to Cuban was straightforward: with the cost of online data storage dropping and internet speeds increasing, there was a golden opportunity for a company to simplify secure online data storage. Despite receiving hundreds of email pitches daily, Cuban was swayed by this proposition.

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"That was wild, because it happened so fast," Levie told CNBC. “Cuban's funding represented Box's breakthrough investment," he added.

However, Cuban had a change of heart about a year after his investment due to disagreements over Box’s business model. In 2006, Box secured additional funding, and Levie used a portion of this capital to repurchase Cuban’s stake.

Despite the fallout, Cuban’s initial investment was instrumental in Box’s early growth. The company has been profitable since 2023, with a reported net income of $129 million in 2024.

Why It Matters:: Mark Cuban’s initial investment in Box underscores the power of cold emailing and the potential it holds for startups seeking funding.

Despite Cuban’s eventual exit, his early confidence in the company provided the necessary boost for Box’s growth.

This story serves as a reminder of the importance of persistence, a clear vision, and the courage to seize opportunities in the entrepreneurial world.

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Image: Shutterstock/T. Schneider