(1 votes, average: 4 out of 5)
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http://www.startupnation.com/pages/keymoves/teenage-entrepreneur.asp?src=nw
Company - http://switchpod.com
Founders: Weina Scott and Jake Fisher
Location: Miami Beach, Fla. (Weina); Rochester, Minn. (Jake)
Year Founded: 2005
Initial Capitalization: $50
Sold For : $200,000
Weina Scott and Jake Fisher’s Story: Even among startups with cut-to-the-bone budgets, the creation and launch of Weina Scott’s and Jake Fisher’s podcast hosting company was a remarkable exercise in minimalism.
Weina wrote the programming code for Miami-based Switchpod.com on Microsoft Notepad. Then she and Jake, her marketing guy, built a Web site, started posting on message boards to get word out about their service, and blew through their ad budget - $50 – for online promotion.
Now considered one of the top five podcast hosting companies in the industry, Switchpod, launched in 2005, averages 1 million downloads a month and enjoys a 20 percent monthly growth rate in listener downloads. It recently was acquired by Wizzard Software for $200,000 in stock.
Oh, yes - both entrepreneurs are high school students.
More at
http://www.startupnation.com/pages/keymoves/teenage-entrepreneur.asp?src=nw
That’s cool. I liked the way they quickly latched on to the offer and grabbed it. No dalliance on valuations, nothing…! Have a deal, will take - for that matter it’s all stock and no cash.
Quite smart…..Way to go.
I visited the Switchpod site too…pretty cool as of now, though it only allows uploading a podcast that’s already created. I feel it would be a real winner if they could come up with some features eg…enabling a casual user to create a podcast right in there. Will that not be awesome…? I guess so.