Dan Borislow facts for kids
Quick facts for kids
Dan Borislow
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Borislow in 2010
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| Born | September 21, 1961 |
| Died | July 21, 2014 (aged 52) |
| Occupation | Telecommunications, Horse breeding |
| Spouse(s) | Michele (Shelly) |
| Children | 2 |
Daniel Marc Borislow (born September 21, 1961 – died July 21, 2014) was an American businessman, sports team owner, inventor, and horse breeder. He grew up in Philadelphia, Pennsylvania, and went to Widener University. Dan Borislow was known for starting successful companies like Tel-Save and magicJack, and for his love of horse racing and women's soccer.
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Business Adventures
Dan Borislow was a very creative and driven person who started two big companies.
Tel-Save: Making Calls Cheaper
In 1989, when he was in his 20s, Dan Borislow started a company called Tel-Save. It was based in New Hope, Pennsylvania. His idea was to buy access to AT&T long-distance phone lines and then sell it to smaller and medium-sized businesses at a lower price. This helped many companies save money on their phone bills.
In 1995, Tel-Save became a public company, which means people could buy shares of it on the stock market. This helped the company grow even more.
A big moment for Tel-Save happened in 1997. Borislow made a deal with America Online, a very popular internet company at the time. Tel-Save got the special right to offer long-distance phone service to all AOL users. This was a huge deal, worth $100 million, and it made Tel-Save very well-known. At its best in 1998, Tel-Save was worth $2 billion, and Borislow's own share was worth $500 million! However, the company later faced financial challenges, and Borislow decided to sell his stock and take a break from business. Tel-Save is now known as Talk America.
magicJack: Phone Calls Through the Internet
After a short break, Borislow came up with a new idea in 2005. He wanted to create a way for people to make unlimited phone calls using the internet. This new business became YMAX Communications Corporation, and its main product was the magicJack.
The magicJack is a small device that you plug into a computer's USB port. It lets you make phone calls from a regular phone using your internet connection. Borislow invented this product in 2007.
Before Borislow started advertising magicJack widely on TV in 2008, they sold less than 1,000 devices a day. But after the TV ads, sales jumped to 8,000-9,000 per day! By June 2008, about 500,000 people were using magicJack. Its success was largely due to its low price: $40 for the first year and then $20 each year after that.
In 2009, there were some questions about how magicJack's "free 30-day trial" was advertised. Borislow worked with the state of Florida to clarify how the trial worked and added more information to the company's website.
In 2010, YMAX joined with an Israeli phone company called VocalTec. This made YMAX a publicly traded company on the NASDAQ stock exchange.
Horse Racing Passion
Dan Borislow loved horse racing and got into the business in 1991. He worked with trainer John Scanlan to find and train horses.
One of his early horses was a female horse named Beautiful Bid. She gave birth to a famous horse named Beautiful Pleasure, who won a big race called the Breeders' Cup Distaff. In 2000, Borislow sold Beautiful Bid for $2.6 million.
He also bought a young horse in 1999 for $1.8 million and named it Talk Is Money. This name was a nod to his Tel-Save company, as he said, "Every time someone was talking on the phone, I made money." Talk Is Money even qualified for the famous 2001 Kentucky Derby, but didn't do well in the race.
Borislow's most successful racehorse was Toccet. Toccet won several important races in 2002, including the Champagne and Hollywood Futurity. Toccet was named one of the best two-year-old horses that year.
In May 2014, just before he passed away, Borislow won a huge prize at Gulfstream Park. He won $6.6 million in a special horse racing bet called the Rainbow Six! He had picked the winners of the last six races correctly.
Women's Professional Soccer
In 2011, Dan Borislow bought a professional women's soccer team called the Washington Freedom. He moved the team to South Florida and renamed it magicJack.
Borislow brought in famous players from the United States women's national soccer team like Abby Wambach and Hope Solo. He paid them very good salaries, much higher than what most other players in the league earned.
However, Borislow faced disagreements with other team owners and even some players. These conflicts eventually led to the league deciding to end his team's participation. The magicJack soccer team was disbanded in October 2011. The ongoing issues also led to the entire Women's Professional Soccer league cancelling its 2012 season.
Giving Back: Philanthropy
Dan Borislow also believed in giving back to the community. In 1997, he started the D&K Charitable Foundation with a large donation of $21 million in stock.
The foundation supported various causes that Borislow cared about. For example, it made donations to medical centers in Florida and gave money to religious schools and a private school in West Palm Beach, Florida.
Personal Life
Dan Borislow lived with his wife, Michele, and their two children, Danny and Kylie, in Palm Beach County, Florida. He also had a home in Brigantine, New Jersey.
In his free time, he enjoyed playing soccer, watching different sports, and going deep-sea fishing.
Dan Borislow passed away from a heart attack in Jupiter, Florida, on July 21, 2014. He was reportedly playing in an adult soccer match when it happened. Many people attended his memorial service to remember him.
