Eric Bauman Net Worth

What is Eric Bauman's Net Worth?

Eric Bauman is an American internet entrepreneur with a net worth of $5 million. He is widely known for founding and previously owning the humor website eBaum's World. Launched in 2001 during his high school years, eBaum's World became one of the most visited non-adult video sites online, particularly between 2003 and 2005. This site was popular before YouTube's rise, though it faced several copyright infringement accusations from companies like Viacom, Something Awful, Break.com, and YTMND.com. Despite controversies surrounding an intended TV show with USA and Fox, the site continued to grow, leading to partnerships like the third season of G4 TV's 'Web Soup' with eBaum's World. At its peak, the site brokered book and licensing deals and employed about 30 people in a 19th-century farmhouse in Rochester, NY.

Eric co-owned the site with his father Neil Bauman until it was sold to HandHeld Entertainment in 2007.

Presently, eBaum's World is under the ownership of Literally Media, which also manages Know Your Meme, Cracked.com, and Cheezburger.

HandHeld Acquisition

In August 2007, Eric and Neil Bauman agreed to sell eBaum's World to HandHeld Entertainment, a subsidiary of ZVUE Corporation. HandHeld, in part, was owned by Carl Page, brother of Google's co-founder Larry Page. In the year leading up to the sale, the website generated $5.2 million in revenue and $1.6 million in profit.

The sale price was reportedly $17.5 million, comprised of $2.5 million in HandHeld stock and $15 million in cash. Consequently, Eric and Neil each received approximately $4 million after taxes. Additionally, the sale included potential earnouts and bonuses that could amount to $52.5 million over three years, contingent on achieving specific performance goals.

Firing

Unfortunately, Eric and Neil didn't receive substantial additional financial benefits as they were both reportedly fired by ZVUE Corporation within six months of the acquisition. Along with his staff, Eric claimed that the new owners continued to use his likeness to falsely imply his association with the site.

Shortly after being fired, Eric launched a new website, ebaum.tv, which is no longer operational.

Neil Bauman Bankruptcy

In July 2015, Neil Bauman filed for Chapter 7 bankruptcy. Although he had used much of his earnings to invest in properties in Rochester, NY, these investments suffered due to the 2008 economic crisis, leaving him financially strained.

Better Than Pants LLC

In September 2006, Eric founded Better Than Pants LLC, a company that creates and sells humorous t-shirts. The venture even operated a physical store in Webster, NY, at one point.