17 y/o solds startups for $30 Million and joins Yahoo

VinBed said:
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That's pre baby -
 


KennyPowers said:
He doesn't have $30M. He raised $1.5 million 2 years ago to develop the app. I'd be surprised if he had $5M after everything was all said and done. Investors investing in a 15 year old aren't stupid. They definitely maximized their upside.

Plus, these types of deals typically want the founder to stay on for a period of time.
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He raised $1.5mill and Yahoo are poised to pay him $30mill. Smart boy.
 
bodiddley said:
I am. If you have $30M in the bank, why the fuck are you joining Yahoo?
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He is 17 fucking years old with 10-20 Mil in the bank, and even if it ends up not working out, which I dont think it will, he will still gain a lot of experience.

KennyPowers said:
He doesn't have $30M. He raised $1.5 million 2 years ago to develop the app. I'd be surprised if he had $5M after everything was all said and done. Investors investing in a 15 year old aren't stupid. They definitely maximized their upside.

Plus, these types of deals typically want the founder to stay on for a period of time.
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I read somewhere he still had majority stake.
 
KennyPowers said:
He doesn't have $30M. He raised $1.5 million 2 years ago to develop the app. I'd be surprised if he had $5M after everything was all said and done. Investors investing in a 15 year old aren't stupid. They definitely maximized their upside.

Plus, these types of deals typically want the founder to stay on for a period of time.
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Ahaha, oh wow. You should do some reading on how funding works. He's smart enough to make a $30M app. Do you think he's so dumb as to give up more than 20% of his equity for some seed money?
 
While they did poke a bit of fun at him, it sounds like he took gizmodo's advice:

He's a kid who was trying to do big boy things and almost pulled it off. His app might even be useful if it had a little more time in the oven. If I wanted to invest in an app developer, I'd put Nick D'Aloisio through etiquette school, manners class, drill him with social skills and most importantly, teach him the basics of how e-mails work (or maybe just strip him of e-mail rights altogether) and then I'd let him work. The kid got unhinged at what happened with the coverage of his app (I would be too at 15) but he obviously has the sort of so-insane-it-might-be-great passion for this.
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It's now 2 years later, so his app obviously had some more time in the oven. More importantly he finally found someone that found value in either his app or patents (if there are any) and is willing to pay him premium $$ for it.

Not many 17 year olds like that running around...
 
Good for the kid. He may have screwed up with Gizmodo but he never gave up. I would bet $100 he has a picture of that reporter somewhere in his office and when he wants to get motivated, all he has to do is look at the picture...

Now if he can make it through 18 months of the soul sucking factory that is Yahoo, he is good to go.
 
Props to this kid. I'm sure he has been working his ass off the last couple of years (especially with VC over-sight).

Now he can live the rest of his life in style...
 
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