At the age of 12, he started his first company and earned £40,000 from the video game and financial app that he created. Now, he was all set to become a multi-millionaire but he rejected the offer, can you believe it?
In partnership with Chris Thorpe, a 60 year old, Ali developed a price comparison website weneed1.com. basically, it is a money saving and a price comparison website, which Ali believes that no one has created till now. Recently, Chris and Ali met a group of American Investors in London and they were ready to pay them around $5 million i.e. Rs 42 crores, but they flatly refused the offer. Don’t be surprised, as Ali had a logical reason behind this. They rejected it in the month of December last year before Christmas.
Ali says “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.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.”
Obviously, there was a big risk involved in rejecting such a big offer, but Ali had confidence on his technology. He wishes to make the website a household name and wants to earn much more than Rs 42 crores.
Ali claims that this website offers real-time quotes and not the pre-fixed ones that other insurance websites offer. This is the reason why weneed1.com has a great scope in future.
We wish Mohammad Ali all the best for his venture; achieving so much at such a young age is indeed a miracle. His parents must be proud of all this. What’s your take on this? Do share in our comments section below.
