Slashdot.com is a technology news site where users submit related content that is then either approved for public view or denied by system administrators. What started out as a simple hobby blog quickly transformed into a cash generating machine for one entrepreneur who found career success through this website. For this and more we take a look at entrepreneur Rob Malda in the spotlight this week. We’ll look at just how he did it and highlight what lessons any upcoming entrepreneur can learn.
Summary:
Name: Rob Malda
Age: 34
Location: Michigan
Claim to fame: Slashdot (A technology based news website geared towards tech enthusiasts)
Initial cost: <$1000
How He Did It:
Rob Malda graduated from Hope College in 1997 with a degree in Computer Science. While Malda attended school he started a website called slashdot, which would report on daily happenings within the technology space from stories submitted by users and approved by Rob. The site quickly grew to over 100,000 page views by June 1998 taking in around $20,000 per month in ad revenue. The following year in June of 1999, Malda sold his site for about $8 million under the condition that he would still work as the site operator for the new company who bought the site. Malda now works as the site administrator from his home in Michigan and also writes a column for a local computer magazine.
Lessons Learned:
- A simple blog or past time can turn into so much more than expected. Don’t be afraid to try something because you never know what ideas will grow into.
- Traffic and profit are two of the best ways to measure the success of a business venture with the second holding the most weight.
- Never be content with anything – always be looking for new ways to grow and change things up
- Remember to put the user/customer at the front of everything you do – they decide your success
- Internet businesses make excellent start-ups – low cost and usually low risk.
Did you miss last weeks spotlight? Check it out here: The Entrepreneur Spotlight: Jeri Ellsworth.
Be on the lookout for our next entrepreneur spotlight article in this ongoing series. In the meantime, be sure to leave a comment and let me know what you think about the success of this week’s entrepreneur and his entrepreneurship characteristics. Also, please let me know if you have an entrepreneur you would like to see featured here in the weeks to come.
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