![]() Tim Chae, the 20-year-old chief executive and co-founder of social-media marketing company PostRocket, said his age and lack of credit created problems when he moved to San Francisco last year and needed an apartment. While the freewheeling ways of youth may be a positive for venture capitalists, they are less appreciated by landlords. “You’re expected to be limitless,” he said. He believes his age helps him and other youthful entrepreneurs. Wong has raised over $4 million from Hummer Winblad Venture Partners and others. The first time he heard the name Webvan, a legendary dot-com failure, “I had to look it up,” he recalled. He has had his fill of stories about companies that tanked amid the dot-com bust of 2000. “I was 9 years old” during the first Internet boom, says Brian Wong, 20, who runs reward-network Kiip. Īndreessen says more than one young entrepreneur has asked him: “What did Netscape do again?” Andreessen co-founded Netscape, which developed the first commercial Web browser and helped launch the Internet era, shortly after graduating from college in 1993. Kraus said his biggest hiccups with young entrepreneurs are the business references they don’t understand because they are too young to be aware of them. Hsu said the company is taking a different direction and focusing on a line of new products in math, language arts and science. Hsu is now learning the same hard lessons as many of his elders: the company recently laid off staff and is looking to rent out some of its office space in Palo Alto, California. Kraus helped back Airy Labs, an educational social-gaming company run by 20-year-old Andrew Hsu that raised $1.5 million. ![]() “But if you look at it as, ‘Hey, I’m going to raise $500,000,’ there’s a lot of ways to raise that.” “If I’m going to write that big a check, I’m going to invest in people who’ve done it before,” he said. A semiconductor start-up might require $10 milion to $20 million in the early stages, noted Joe Kraus of Google Ventures, and that would be tough even for the most talented youngster. Internet businesses that target consumers is a sweet spot for the baby-faced, because online companies often require relatively little capital. Some are self-consciously molding themselves in the image of Facebook founder Mark Zuckerberg, 27, who created computer games as a child and took a graduate-level computer course by his early teens. “At a certain point, they can’t get much younger or we’re going to be invested in preschool,” quipped Marc Andreessen, whose venture-capital firm Andreessen Horowitz is one of several that backs Buckley’s company, MinoMonsters.Īndreessen and other venture capitalists say the entrepreneurs they fund at 18 or 19 typically have been prepping for years - learning computer code, taking on ambitious freelance projects and educating themselves on the Internet. ![]() While little data on the phenomenon exists, venture capitalists say they are funding more chief executives under age 21 than ever before. Such are the dilemmas facing the ever-younger entrepreneurs that Silicon Valley investors are backing these days. His fake ID was recently confiscated, and the two new ones he ordered from a company in China have not yet arrived. ![]() 22, may be turned away from many of the parties because he is not old enough to drink. There’s one problem: Buckley, who will turn 20 this week on Feb. SAN FRANCISCO, Feb 21 (Reuters) - Josh Buckley, chief executive of an online gaming start-up, is looking forward to next month’s Game Developers Conference in San Francisco, particularly for the parties and the accompanying schmoozing with industry A-listers.
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