NEW YORK (CNNMoney.com) -
Jared Polis is no stranger to selling off one of his successful businesses. In fact, it's more of a recurring pattern for the 30-year-old entrepreneur.
Liberty Media, the owner of the QVC shopping channel, is paying $477 million in cash, or $33.75 a share, for Provide Commerce, an online shopping company Polis owns a 29 percent stake in.
Polis will make $143 million before taxes from the deal, according to a report in the Denver Post.
Polis earlier sold his electronic greeting card company, Blue Mountain Arts, to Excite@home in December 1999 for $780 million. He also was a founder of American Information Systems, selling it for $22 million in 1998, according to the Post.
Polis had the idea to found Provide's main business, the ProFlowers Web site, while a student at Princeton University.
Provide went public in December 2003, offering 4,334,000 shares at $15 each.
"We believe in the power of video to drive television and Web-based retailing businesses and Provide is a compelling addition to our strategy," Liberty Media Chairman John Malone said in announcing the Provide Commerce deal on Monday.
Since 2000, Polis has also been vice chairman of the Colorado Board of Education.
John Malone explains the guts of Liberty Media -- is it an investment company or media company? Full story here.
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