Meet the 16-year-old who rejected Rs 42cr for a website he built in his bedroom
In an age when social media channels are the obvious attraction, 16-year-old Mohammed Ali has done something unusual. He has designed a price-comparison website called weneed1.com from his bedroom for which he was offered a whopping £5 million (Rs 42 crore). He has rejected the offer.
Mohammed, who believes the website will be worth a lot in future, has taken a firm stand on it. Speaking to Metro, he said,
We met the investors in London, they were a global data-driven company, and they didn’t realise I created all the technology involved. The main reason we rejected the offer was because, if the technology and concept is worth millions already, just think how much it will be worth once people use it.
While he realises that the offer is a huge deal, he is passionate about the future of the website, which he foresees will be a household name. If you thought this was the end of his achievements, wait till you hear about his other innovations. Previously, his video game 'Project 2006' earned him a £30,000 reward!. The idea for the money-saving website came from Mr Thorpe, an entrepreneur who lives in Scarborough with his family.
His website, that Mohammed co-created with his 60-year-old business partner, Chris, will launch on January 28, according to Indiatimes.
Mohammed claims to have developed a new algorithm that provides ‘real-time quotes instead of the normal pre-fixed quotes you find on insurance sites.’ The offer was rejected in December, just before Christmas, the A-Level student from Dewsbury, Yorkshire, said.
'The big thing about what we’re doing is that there are no competitors – this is a real-time money-saving expert – it’s like a Bloomberg for the general public.’
He founded WeNeed1 in 2009 as a reverse marketing platform designed to introduce buyers to sellers of goods and services in the UK. The site is designed to alert both buyers and sellers of available products, everything from properties to electronic items, with constantly updated prices.