In 1995, Wagner launched AudioNet with Mark Cuban, a platform for broadcasting live sporting events and radio stations over the internet. As CEO, Wagner grew the company and expanded its services to include corporate events and Business services. In 1998 Wagner and Cuban changed the name to Broadcast.com and took the company public in the midst of the dot-com boom. The Broadcast.com IPO set an opening-day record, with shares climbing 249% from an offering price of $18 to a closing price of $62.75. In 1999, Wagner and Cuban sold Broadcast.com to Yahoo! for $5.7 billion, making 300 employees millionaires (briefly, on paper) and Wagner and Cuban instant billionaires. Wagner continued to lead the division as Yahoo! Broadcast until May 2000, when he declined an offer to become Yahoo!’s Chief Operating Officer to focus on other interests.