A 16-year-old child prodigy was offered a $6.26 million (£5 million) deal for a website he created. The amount is huge event for adults but he turned it down with the belief that it will earn him more money later on.
Mohammed Ali said he rejected the offer for his WeNeed1.com website just before Christmas last year. Ali, who is from Dewsbury, Yorkshire, met with the potential investor in London.
He knew he was dealing with a data-driven American company with global operations. The company, however, had no idea that Ali was behind all the technology needed to run his website from scratch.
"The main reason we rejected the offer was because, if the technology and concept is worth millions already," Ali said. "Just think how much it will be worth once people use it," he told Metro.
Ali said he knows that rejecting the American investor's offer was a big risk. He said no, however, because he wanted to make the website popular in every household.
Ali created a website that will allow users to get insurance quotes in real time. WeNeed1 offers prices of electronics, properties and other products with regularly updated prices, as per Daily Mail.
The teenager has partnered with an entrepreneur identified as Chris Thorpe who gave him the idea for the website. He is confident that the money-saving venture will make it big because there are no competitors.
It was frustration and boredom that encouraged the young entrepreneur to design his own computer game at the age of 12. He did not have formal lessons on coding but he learned much more from YouTube tutorials.He created Project 2006 which had more than 3,000 registered members and views of over 100,000, according to The Sun
Ali lamented the messed-up education system where students are expected to pass exams. He said it is easy to study for exams but students should be prepared for the real world.
