Money Why a 26-Year-Old Turned Down $100 Million Offer for His Startup

18:36  05 june  2018
18:36  05 june  2018 Source:   msn.com

'Man City an opportunity not to be turned down' - Jorginho nearing move

  'Man City an opportunity not to be turned down' - Jorginho nearing move A transfer offer has been submitted to Napoli for the midfielder, the player's agent has claimedNapoli have received an official bid from Manchester City for midfielder Jorginho, according to the player's agent.

Taylor Rosenthal is making waves in the tech space and for a good reason! The 14- year - old entrepreneur recently turned down a million offer to buy his startup RecMed.

Foursquare, for example, turned down over $ 100 million early in its lifecycle, and its exit opportunities now look somewhat grim. You can't fault a passionate entrepreneur like Morin for turning down a lot of money to see his startup through.

a person standing in front of a sign: Carousell CEO Quek Siu Rui Interview © Bloomberg Carousell CEO Quek Siu Rui Interview

Above: Quek Siu Rui

A few years ago, Quek Siu Rui huddled with the board of his Singapore startup to consider whether to sell. Quek was only 26 and the $100 million offer would have made him wealthy beyond his dreams. But he said no: He wanted to keep building the business.

Good call. Quek’s company, an app for selling used goods called Carousell, is now valued at about $500 million, according to a person familiar with the matter. The CEO doesn’t regret his choice. “This is a once-in-a-lifetime opportunity,’’ Quek said in an interview. “We want to build an enduring company.’’

Agent confirms City’s Jorginho bid

  Agent confirms City’s Jorginho bid Manchester City have long been linked with a move for Brazil-born Italian international and Napoli midfielder Jorginho, and according to Tuttomercatoweb via Sport Witness, his agent Joao Santos has revealed that City have placed a bid and that the player had already agreed a €4.5M-a-year deal. Pep Guardiola has made the midfielder one of his priority targets this summer, and has already seen their initial offer of €45 million turned down by Napoli. They have now tabled a new bid and are now awaiting a response from the Serie A club, his agent has confirmed. Speaking to the press, Jorginho’s representative made clear he will “evaluate everything” for his client if the two clubs can reach an agreement. “ I know that an offer from Manchester City has arrived at Napoli. We are awaiting for the Italian club’s response and I don’t think the proposal will be turned down. If Napoli find an agreement with the City, then we will evaluate everything,” Santos told Tuttomercatoweb.” Aurelio De Laurentiis demanded €55 million for his club’s players services, but the new report claims the two clubs could settle for a fee close to €50 million. CalcioNapoli24.it report that The Citizens have agreed personal terms with Jorginho and that the midfielder will earn €4.5 million-a-year if and when he completes his move to Manchester.

This teen's business idea was so impressive, he raised $ 100 ,000 in capital to start it and turned down a - million buyout offer to keep it for himself. Divorce Lawyer Shares What He’s Learned From Failed Marriages –and Why He Still Believes It’s a Good Idea.

Three months later, Morin turned down a $ 100 million buyout offer plus a million earn out over four years from Google. At TechCrunch Disrupt, Moskovitz admitted his role in Morin's decision to decline Google's offer .

Six-year-old Carousell operates in seven markets including Singapore, Hong Kong and Australia and is one of the region’s most popular virtual flea markets. People use it to sell everything from second-hand cars and couches to game consoles and, as of this week, purple wigs.

After raising $85 million in a recent funding round, Carousell plans to build out its existing markets, which also include Indonesia, the Philippines and Taiwan, before expanding to more countries. It’s part of a league of classified marketplaces, including Seattle-based OfferUp Inc. and Japan’s Mercari Inc., that are aiming to challenge Ebay Inc. and Craigslist Inc.

“Carousell started in a fresh market with a new product offering that was tailored for Southeast Asia,’’ said Vinnie Lauria, founding partner at Singapore-based Golden Gate Ventures, a long-time Carousell backer.

It's official: Microsoft will spend a whopping $7.5 billion to buy GitHub, a startup at the center of the software world

  It's official: Microsoft will spend a whopping $7.5 billion to buy GitHub, a startup at the center of the software world Microsoft is acquiring GitHub for $US7.5 billion in stock. The acquisition brings together one of the world's largest software companies, Microsoft, with one of the world's largest software development platforms, GitHub. The deal is expected to close by the end of the year.Microsoft is buying GitHub, a massive software development platform, for $US7.5 billion.The deal is expect to pass regulatory review and close by the end of 2018. GitHub's last valuation put the software company at around $US2 billion - reports of an acquisition by Microsoft put the price north of $US5 billion.

This 14- Year - Old turned down a Million offer for his First-Aid vending machine startup . A 7- Year - Old Tricked Her School Into Letting Her Go Home With A Note ft.

These Startups May Have Blown It By Turning Down $ 100 Million . Alyson Shontell. VIDDY: Last year , a video app called Viddy walked away from a $ 100 million offer , then lost all of its traction. Viddy has since laid off half its staff and its CEO has been fired.

Quek and his partners, Lucas Ngoo and Marcus Tan, got to know each other as students at the National University of Singapore. The self-described geeks bonded over their hobby of buying and selling gadgets online. As part of a university program, they spent a year in Silicon Valley and attended talks by entrepreneurs, including Facebook Inc. founder Mark Zuckerberg.

Carousell CEO Quek Siu Rui Interview © Bloomberg Carousell CEO Quek Siu Rui Interview

Carousell headquarters in Singapore.

They founded Carousell in 2012, naming it after the Kodak Carousel projector featured as the cutting edge of technology on the TV drama "Mad Men.” They won over millennial fans by making the shopping experience as simple to use on a mobile phone as Instagram or WhatsApp.

Quek, now 30, drew inspiration from Zuckerberg, who also turned down buyout offers in his early years. Facebook has since become something of a rival with the debut in Singapore this year of Marketplace, its platform for consumers to sell used items. Quek isn’t too worried. “The launch of Facebook Marketplace is a validation that the problem we are solving is massive,’’ he said.

It's official: Microsoft will spend a whopping $7.5 billion to buy GitHub, a startup at the center of the software world

  It's official: Microsoft will spend a whopping $7.5 billion to buy GitHub, a startup at the center of the software world Microsoft is acquiring GitHub for $US7.5 billion ($AU9.8 billion) in stock.Microsoft* is buying GitHub, a massive software-development platform with 24 million users, for $US7.5 billion.

Remember that 14- year - old entrepreneur who made headlines for turning down a million buyout opportunity? Well, he has a magic number for selling his vending machine company, RecMed, and it's a cool million . Taylor Rosenthal, a ninth grader from Opelika, Alabama, launched RecMed last year.

This 14- Year - Old Just Turned Down Million . Here’s Why . How to Start a Business When You’re 14. His startup , RecMed, began as a project in a Young Entrepreneurs Academy class.

Carousell CEO Quek Siu Rui Interview © Bloomberg Carousell CEO Quek Siu Rui Interview

The Carousell app.

The three founders have turned to machine learning and artificial intelligence as they try to shorten the listing process from few minutes to a few seconds. When a user takes a photo of an item, its app can recognize a pair of sneakers or a bag and suggest a category and title. That’s helped Carousell grow to more than 144 million listings. The company is now working to suggest optimal pricing.

There are local touches too. Its popular in-app chat recommends a response based on the conversation. They include Singaporean-English (or Singlish) phrases like “Can or not?,’’ a way of asking if something is possible, or “Wait ah,’’ which means wait a moment.’’

This month, the company will roll out CarouPay, which allows users to complete transactions without leaving the app. It’s already unveiled premium services for sellers, paid ads and subscription services for car dealers and property agents in Singapore.

“The rise and evolution of Siu Rui has been phenomenal,” said Kuo-Yi Lim, managing partner at Monk’s Hill Ventures in Singapore, which is not a Carousell investor. “Without question, they are going to be attractive to a lot of people. The question for Siu Rui and his team is, ‘Is this the right company to sell out to? Is this the right time to give up control or should we continue to shoot for the moon?”’

Janitors are becoming millionaires thanks to this stock’s 9,500% rally

  Janitors are becoming millionaires thanks to this stock’s 9,500% rally The stock is one of the world’s best performers since 2008But at China’s Sunny Optical Technology Group — whose stock has climbed faster than any other in MSCI Inc’s global indexes over the past decade — the richest employees are just as likely to be factory workers, janitors and cafeteria chefs.

This 14- year - old created a vending machine for first-aid kits 3:07 PM ET Wed, 20 July 2016 | 00:41. Taylor Rosenthal can't even legally drive but has already turned down a million offer to buy his start - up RecMed, CNN Money reported on Tuesday.

Rosenthal’s idea for a first-aid dispensing vending machine has already raised $ 100 ,000 from private investors and received an order of 100 machines from Six Flags. Rosenthal was also reportedly offered million from a “large national healthcare company” for his idea

Quek acknowledges he continues to get deal inquiries -- but the company is still not for sale. “We want to be in the driver’s seat,’’ he said. “We are less than 1 percent done.’’

NOW SEE: Self-made billionaires - how they got started (Photos)

Follow us on Facebook, and on Twitter

Tottenham rival Chelsea with £15m bid for Grealish .
Chelsea’s London rivals Tottenham have launched a £15 million bid for Aston Villa Jack Grealish. Twitter: BREAKING: Sky sources: @SpursOfficial have offered £15million for Aston Villa’s Jack Grealish. #SSN https://t.co/iP7TebrwP8 (@SkySportsNews) Given Aston Villa’s failure to gain promotion back to the Premier League, and their subsequent financial issues, it is widely accepted that Grealish will be leaving this summer. However, Villa have apparently put a £40 million asking price on the 22-year-old, so Spurs’ offer falls way short of that valuation. There is no word if Villa have responded to the offer as of yet, but it seems likely that they’ll reject it and ask for a bid which comes closer to their valuation. There are reportedly a number of clubs interested in the England U21 international so there shouldn’t be any need to accept the offer, although the club’s financial worries could dictate otherwise. Chelsea were said to have offered Aston Villa £30 million and the option to loan the player back for another season, which raises yet more questions about Spurs’ bid.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!