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On December 31, 1997, Microsoft acquired Hotmail.com for $500 million (~$882 million in 2023), its largest acquisition at the time, and integrated Hotmail into its MSN group of services. [3] Hotmail, a free webmail service founded in 1996 by Jack Smith and Sabeer Bhatia, [4] had more than 8.5 million subscribers earlier that month. [5]
Outlook.com, formerly Hotmail, is a free personal email service offered by Microsoft.It also provides a webmail interface accessible via web browser or mobile apps featuring mail, calendaring, contacts, and tasks services.
In December 1997, Bhatia sold Hotmail to Microsoft for a reported $400 million. [6] Smith went on to co-found Akamba Corporation and work as its CEO. He had also served as a Director of Engineering of Microsoft, first heading its Hotmail engineering division, and then leading a team developing next generation Internet software infrastructure. [7]
Sabeer Bhatia (born 30 December 1968) [3] is an Indian businessman who co-founded the first free web-based email service, Hotmail.com (later Outlook.com) in 1996. [4] In 2021 he co-founded ShowReel with his co-founder Aji Abraham. ShowReel initially focused on connecting users through short videos for job seekers and founders.
1999: America Online has over 18 million subscribers and is now the biggest internet provider in the country, with higher-than-expected earnings. It acquires MapQuest for $1.1 billion in December.
Microsoft Corporation is an American multinational technology conglomerate headquartered in Redmond, Washington. [2] Founded in 1975, the company became highly influential in the rise of personal computers through software like Windows, and the company has since expanded to Internet services, cloud computing, video gaming and other fields.
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Scott Kenneth Homer Bessent was born on August 21, 1962, [9] the oldest of three children of Barbara (née McLeod) and Homer Gaston Bessent Jr., a real estate agent. [10] [11] [12] He is of French Huguenot ancestry.