16-year-old Mohammed Ali rejected a $6.72 million offer for his website, weneed1.com because he believes that the site will be worth a lot more in future. Mohammed Ali is not new to either tech or big money has earned more than £40,000 after creating his own video game and a financial app for the stock market. The school kid from Yorkshire, UK has instead launched his own price comparison search engine with 60-year-old business partner Chris Thorpe.
According to Metro, a group of American investors made the $6.72 million offer for weneed1.com to Mohammed Ali just before Christmas “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,” said Ali.
The youngster has big dreams for weneed1.com. “I understand this is a big risk for me but I want to create this as a household name, and at the same time make something for myself,” He says, “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 adds. According to Mohammed Ali, weneed1.com runs on an algorithm he developed. According to him, the algorithm provides real-time quotes instead of the normal pre-fixed quotes you find on insurance sites.’ Let’s hope weneed1.com does indeed make more than $6.72 million for Mohammed Ali and his partners in the coming days.
