Million-Dollar Kids: 6 Crazy Rich Teen Entrepreneurs
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Success can come at any age. And for this bunch, it came early and it came with a pretty awesome payday. Check out a few of the richest teen entrepreneurs out there.
D’Aloisio, 17, made headlines this week for selling his mobile news app Summly to Yahoo for a reported $30 million. The programming guru still has a year and a half left of high school, but has said he will make arrangements to test out of his classes so that he can work from Yahoo’s London office, in part to follow the company’s new policy that prohibits working from home.
Wong founded Kiip, a rewards platform that lets brands and companies give real-world rewards for in-game achievements, at age 19. To date, the company has reportedly raised $15.4 million in funding and landed Wong on the Dow Jones FASTech50 list in 2011.
Mark Bao, 18, is currently a founding partner of 10 technology start-ups. In 2011, he sold his vanity app ThreeWords.me (which garnered over 17 million pageviews in a matter of a few months) to dot-com mogul Kevin Ham, whose portfolio includes around $300 million worth of domain names, for an undisclosed amount. But the amount was "very pleasing to both Bao and his parents."
Brindak launched her tween social networking site Miss O and Friends (an Inc. Coolest College Start-Up in 2011) when she was only 16. The site generated 10 million monthly visits, a 20-fold traffic increase since the site launched in 2005. Procter & Gamble, an early investor, valued the company at $15 million in 2008.
At the ripe old age of 14, Belnick created bizchair.com, an online furniture retailer with an initial investment of $500. In 2004, he moved the operation out of his bedroom and into his first warehouse, and by 2009, had more than 702,000 square feet of warehouse space. The company reportedly had sales of more than $58 million in 2010.
Not every teen 'trep takes the money: In 2004, at age 14, Qualls launched the site WhateverLife.com, a site that offered web graphics and layouts for MySpace users. She clocked revenue of $70,000 per month with 7 million monthly visitors and was reportedly offered $1.5 million for the business in 2006 from an undisclosed buyer--but turned it down.