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HomeNewsInternet Entrepreneur Sells App Firm For $30million - Just Three Months After...

Internet Entrepreneur Sells App Firm For $30million – Just Three Months After He Founded It

It’s a story straight from the dot-com boom – except it happened today.

In January Adam Cahan came up with a social networking tool to let people tell their friends which TV shows they are watching.

Just three months later he has sold his start-up company to Yahoo! for between $20million and $30million.

The extraordinary deal means that for every day Mr Cahan worked on IntoNow, he earned around $30,000.

He said ’12 weeks might be a record of sorts’, from start-up to exit.

Mr Cahan has now been made a new vice-president at Yahoo! following the sale.

IntoNow is so far only available on the iPhone but he plans to roll it out on other mobile phones soon.

He is the latest in a long-line of internet entrepreneurs who have taken advantage of the iPhone’s popularity in what has been called a ‘modern day gold rush.’

Apps are relatively cheap to develop and with the number of iPhone users growing all the time, the market is huge.

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The Heat Reporter
The Heat Reporterhttp://theheatmag.com
Known in entertainment circles as "LA Dre", the Editor of The Heat Magazine works tirelessly to bring you the latest & greatest in entertainment news. He spent years in the industry & now brings some of that insider knowledge to his readers.
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