Young Entrepreneurs That Hit It Big
Making money early
Some of these 9 young entrepreneurs were just in their early teens (one before he even hit the double digits!) when they launched their unique businesses. Finding problems and creating those unique businesses to solve them. While some enlisted the help of family, mentors and friends others ventured out on their own.
James Murray Wells : A New Vision
The founder of Glasses Direct, an online retailer based in London.
At the tender age of just 21, this university student dropped out of college and funneled his $2,000 student loan into the business venture. This all started when he wasn't please with a $300 price tag on a pair of prescription eye glasses.
$2Million was the revenue in the first year. To date the company pulls in $5Mil a year and employs 70 people. Also it has raked in a hefty $34Million in venture funding.
Michael Furdyk : From the basement to the top
In 1996. a young. 16 year old Michael Furdyk started an online computer magazine in the basement of his parents Toronto, Canada home. MyDesktop.com was filled with tips and advice that he learned in online chat rooms.
In those online chat rooms he met Michael Hayman. Who would soon move to Toronto to help with the business. That help generated the pair $60,000 a month in ad revenue from clients such as IBM and Microsoft.
In 1999 the company was sold off to Internet.com for $1Million. Internet.com absorbed MyDesktop into its site.
Fraser Doherty: Jammin Out
Jammin out in his parent home of Edinburgh,Scotland (in the kitchen nonetheless) at the ripe young age of 14 Fraser Doherty started SuperJam. By age 16 he left school full time to work on his business.
In 2009 the revenue for SuperJam was $1.2Million. Fraser Doherty remains the only full time employee and his company is currently debt free. Its estimated value is at $1 to $2Million.
Ephren Taylor: Video Games to Job Postings
At 12 years of age, Ephren Taylor made is way to the local Boarders book store just to read "How to make a video game in 21 days" by Andre LaMothe. After a few months Ephren Taylor coded and began selling his very first video game at $10 a piece. Under the banner of Flame Software, at 13, he began designing websites. Of course he sold himself short by only charging $200-per-site, when he realized that other competitors where selling the same thing for thousands of dollars.
He then teemed up with friend Michael Stahl, and built GoFerretGo.com, a job posting sight for college and high school students. Again selling himself short by only charging $38 per job posting.
In 2001, the company went bust. But was valued at $3.5Million at its height.
Cameron Johnson : Just another party
In 1994 at the age of 9, Cameron Johnson, started the company Cheers and Tears. He made greeting cards in his parents Virigina home using Photoshop. Soon he began collecting orders from friends and colleagues of his parents.
Using the money from Cheers and Tears, Cameron Johnson, invested in the TY Beanie Babies. Selling the Beanie Babies on eBay and his Cheers and Tears website he raked in $50,000.
At 13 he started My EZ Mail. Within 2 years he was generating $3,000 a month in advertising revenue.
Joining forces with two other teens in 1997 and started the company, Surfingprizes.com. Surfingprizes.com was an online advertising company.
At 15 years old Johnson was bringing in $300,000 to $400,000 a month. In 2001 he sold off portions of the company and closed the remainder of it.
Catherine and Dave Cook : Just another Yearbook photo
Can you imagine flipping through your Yearbook and then having an idea to build a site based on it? Well that is exactly what happened to Catherine Cook (15) and her brother Dave (17). And the social networking site MyYearbook.com was born.
Merging with Zenhex.com and more than doubling the traffic to their site. Raising $4.1Million in 2006. And in 2009 it is one of the 30 most visited sites in the USA and is estimated at $20Million.