How is this worth $3.5M? Is it just a 1 man shop? Not to be a hater (if true, I am jealous and proud of this kid), but it seems like the media made up this number. Kudos to him for building something as a teen (When I was his age, I was doing web design and programming work freelance).
In the interview, he said he had 150 contractors working for him now. No matter how part-time those contractors are, that's clearly not a 1 man shop. When I was a teenager, most of my friends could barely remember to keep their shoelaces tied, let alone manage a business with 150 staff. Good for him!
"2012 was rich with large clients and strong finances for Bledsoe Technologies. Throughout the year, I received multiple inquiries on taking this company public. I answered most of these inquiries with soon! Due to these inquiries I reached out to many business brokers for informal valuations. These valuations returned numbers from $100,000 to $3,750,000. "
It sounds like a broker just drew the $3mm number out of a hat. Still cool that he is working hard but the article is a bit of a fluff piece.
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[ 2.7 ms ] story [ 53.5 ms ] threadedit: here is the link to the letter: http://bit.ly/14VcIDP
It sounds like a broker just drew the $3mm number out of a hat. Still cool that he is working hard but the article is a bit of a fluff piece.
http://blog.accountingcoach.com/what-does-m-and-mm-stand-for...