(CNN) Joseph Segel, the founder of QVC, died on Saturday, according to a news release from the company that owns the shopping channel. He was 88 years old.

The company, Qurate Retail Group, remembered Segel as the "quintessential entrepreneur." His career saw him delve into diverse industries like publishing, minting, aviation, software and broadcasting, it said.

"Joe Segel was a remarkable leader, entrepreneur, marketer, teacher, and friend," said Qurate Retail President and CEO Mike George.

"He was a visionary whose ideas changed the way the world shops," he said.

Born in Philadelphia on January 9, 1931, Segel would go on to found QVC (short for "Quality Value Convenience") in 1986. At the time of its first broadcast, it was available in 20 states, the news release said. Today, it reaches 380 million homes around the world.

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