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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Entrepreneurship

Entrepreneurship

Famous Companies That Were SetUp by Teenagers, Youngest CEO

Mark Zuckerberg young entrepreneur- image fromfacebook
Mark Zuckerberg young entrepreneur- image fromfacebook

Young adults are always creative with fresh minds. Some of them end up utilizing their innovative minds for something better. As a result, we have hundreds of young entrepreneurs who are on their way to making multi-million dollar companies.

In most interviews, CEOs always regret why they set up their companies late. They are always envious of teenage entrepreneurs. It’s the best opportunity when you realize your dreams at a tender age. It requires much dedication. To achieve greatness, you must do something different from the rest of your peers. Sometimes it’s unbelievable when your age mate builds billion-dollar companies. 

Most teenagers focus on summer jobs, at least to earn some allowances and to have their freedom. Others are always busy working on long-term goals projects that will have a positive impact on society. As a young teenager, you don’t have many bills to pay; use the opportunity. You must learn to utilize the available resources to grow hugely. 

If you follow up, CEOs start their companies without a physical building. But over time, they become recognized worldwide. Among the top famous companies started by teenagers are Subway restaurants and Facebook.

Mark Zuckerberg

While 19 years old, Mark Zuckerberg lived in the Harvard hostel while working on a big project. He had grown up in a medium family where they had all sets of computers. Mark learned programming skills from his father. He joined Harvard University in 2003. He had created a live stream music software that he gave out for free at that moment.

While still a freshman, he built the Facemash website. Students in the school will pity each other based on their body shape and attractiveness. Within a few days, the school took it down as per the rules and regulations.

Together with his friends, namely: Chris Hughes, Andrew McCollum, Eduardo Saverin, and Dustin Moskovitz, they worked on Facebook. The university wanted a site that could connect all the students online. So, the young entrepreneur was solving the problem. He borrowed some capital from his father, of which they launched the platform. Within a few days, it started getting popular even outside the school. That was the best achievement of his life. It changed the way we communicate with each other. 

Currently, Facebook has almost 17 billion users across the world. It’s the most popular social media platform where thousands of businesses are taking place. It recently crossed the trillion-dollar mark. The entrepreneur is among the top 5 richest people in the world, a report by Forbes. 

He became the youngest CEO to cross the billion mark.

Matt Mullenweg

The young CEO started WordPress at 19 years of age. He is also a tech master, just like Zuckerberg. He started with a simple content management system in 2001. The b2/catalog helped Matt host his website. This was after he became frustrated with other hosting companies, which limited him to perform certain roles.

After noticing that his system, b2/config, could host blogs, he re-developed it afresh. During the launch, he renamed the system WordPress, which has become popular. Everyone can host and buy a domain name from the company. 

Since its beginning, the company has managed to host more than 20 billion pages across the world. The statistics showed that almost 500 million individuals visit the site monthly. The number increased when the pandemic struck as people were indoors.

Michael Dell

Have you seen Dell computers and laptops? Michael is the founder of a hardware tech company selling millions of machines monthly. He joined Texas University in 1884. His monthly income came from repairing computers for his peers.  When the first year ended, he dropped out of school. He had made almost $80,000 in total from computer sales. So the young entrepreneur opened up a business to work as a full-time technician. He branded it PCS Limited.

Over time, his business grew famous and changed its name to Dell Computer Corporation. Then, after a few years, he shortened to Dell Inc. At that time, it was one of the leading producers of personal computers. Currently, the company has diversified its products.

According to Forbes real-time data, Dell Inc has a net worth of $43.12 billion. They experienced a loss during the Covid-19 period. But after the Covid-19 had reduced, the company made huge sales. As a result, the demand was higher than the supply. Michael is still the CEO and owns almost 50% of the total shares.

The company specializes mainly in creating high-quality laptops. Michael Dell is the youngest CEO to ever start a company in Texas.

He was the youngest CEO in Texas.

Catherine Cook

The female gender is represented by a smart lady by the name of Catherine Cook. While at 14, she founded MyYearbook. They were working on the project with his brother. They went to the same high school in New Jersey. Since they were new in town, they had no friends. It’s always a good idea to attract good friends during your first days in school. But creating a rapport sometimes becomes ambiguous.

They decided that an online yearbook would help them meet peers in school. Their older brother was working at a certain tech company. He decided to invest in the MyYearbook website. Catherine became the youngest CEO in New Jersey.

Within a single week of launching, they had 400 people who registered on the social media site. Six months later, they could not believe that the platform had accumulated over 1 million users. It almost became hard to manage because of the high traffic. The company made $23.7 million with 32 million users in 6 years. 

 Quepasa decided to buy the MyYearbook in 2011 for $100 million in cash. The siblings decided to take the offer. Currently, it’s a popular MeetMe social platform.

Fred DeLuca

Fred, while 17 years old, was struggling with college fees. Through much consultation, he opened up a business near his home. A Family friend and nuclear pharmacist, Peter Buck, offered him a loan worth $1000. They opened the business and were branded as Peter’s Super Submarines. It was located in Bridgeport, Connecticut. 

As time moved by, they renamed it Subway. He used to offer food chain service across the United States. In the 1970s, it became the largest food chain supply. They expanded the company to cope up with the high-demand rate. Fred DeLuca had to employ several workers who managed to help in supply and customer support.  He was the youngest CEO in the 20th century in the US.

Currently, the Subway company has expanded its routes to almost everywhere in the US. They have 24,008 restaurants in the United States. Unfortunately, the CEO died in 2015 while at 67 years. 

John Chidsey chairs the Subway company. People love the restaurants because of submarine sandwich pizzas. According to Forbes, the company has a net worth of $16.1 billion. The DeLuca family purely owns it.

Palmer Luckey

Most of the Gen Z people grew up in the world of the internet. Palmer Lucky got engaged in virtual reality gaming while in middle school. At 15 years, he built a PR1, a personal VR headset. Two years later, he modernized it to a fully functioning virtual reality. The headset was able to trick people’s brains and make them think deeper. Whenever you wear them, you can feel something different in your mind.

That was the beginning of the Oculus VR journey. He had set up his company called Oculus. A few years later, Facebook approached the young entrepreneur with $4 billion. He wouldn’t hesitate on that offer, as he sold Oculus to the social media platform.

According to the report, Facebook decided to give him a job as an executive of the oculus department. He resigned in 2017 to focus on his new tech startup called Anduril industries. It’s a defense company that makes autonomous sensors and drones that military organizations use. 

The VR console now sells more than any other, a report by Android central.

Mike Kittredge

The Yankee Candle was founded by a 16-year-old boy called Mike Kittredge. He used his grandfather’s knowledge to make candles, of which he sold each at $2. Most of the customers were neighbors and relatives. Through direct and indirect referrals, the demand for candles increased in his area. 

The young boy turned the opportunity into a side hustle. First, he operated it at his parent’s garage. Then, 6 years later, in 1973, he started his own company and named it Yankee Candle. A young entrepreneur rented space around Massachusetts in an old paper mill. Almost the whole city was acquiring candles from the Yankee.

After a certain period, he decided to sell it for $500 million. Currently, the company has almost 19000 retailers operating in 500 stores across the world. Yankee Candle has a net worth of $1 billion. A lot of people loved the manufacturers because the candle is purely from natural resources. It produces a sweet smell while lighting.

Furthermore, it is a long-lasting light. All these are the reasons why the company was absorbed in that fee. Its headquarters are found in South Deerfield, Massachusetts.

He was the youngest CEO in Massachusetts. Unfortunately, despite its success, the founder Kittredge passed away at the age of 67 in 2019.

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