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Teen entrepreneur invests in Bitcoin, gains $100,000

Teenage Entrepreneur Taking Advantage Of Online Technology

One entrepreneur from Idaho has invested money in Bitcoin and started his own company ... the catch? He's only 15.

Erik Finman invested $1,000 in Bitcoins, a decentralized digital currency. He then sold them for about $100,000. He told CBS he hit the jackpot. Finman then created an online tutoring service called Botangle, which helps students connect with experts who teach via video chat. CBS did a feature on the teen and talked with him about the unusual deal he made with his parents: "They said if I make a million dollars before 18, I don't have to go to college."

So the guy who founded an online tutoring service is trying to skip out on college? On his personal website, Finman says he's had "negative experiences" in the traditional school setting. These experiences are actually why he became so passionate about Botangle in the first place.

By the looks of Finman's Kickstarter page, the Botangle business didn't have the best start -- it only reached about $300 of its $20,000 goal during the month of funding. But that didn't stop the teenager. Botangle has accrued about 1,700 users since it started in May. And it never hurts to have a mentor who knows what he's doing.

Finman says he drew inspiration from Alexis Ohanian, who was 22 when he co-founded the social networking website Reddit. Ohanian's book "Without Their Permission: How the 21st Century Will Be Made, Not Managed," is full of tips and ideas for taking advantage of today's technology. Finman says the book also reminded him doesn't need permission to start a business at a young age.

Let's also remember Steve Jobs was only 21 when he co-founded Apple and Bill Gates was just 20 when he co-founded Microsoft.

Finman currently has 20 full-time "freelancers" working for his company Botangle. They're called "freelancers" because he's not legally allowed to employ people.

Related Searches:
Alexis Ohanian
Online Tutoring Service
Alexis Ohanian's Book

Join the discussion

1000|Char. 1000  Char.
madkono August 19 2014 at 1:44 PM

you didn't do that!!! we all helped!!! now start sharing...me first!!!

Flag Reply +3 rate up
skydrop007 August 19 2014 at 2:09 PM

Republicans know how to invest whereas liberals do not.

Flag Reply +3 rate up
5 replies
clwgeorgetownlaw August 19 2014 at 10:31 AM

There are plenty of kids his age selling crack and they are doing much better than Finstein or whatever his name is.....Why don't we see stories about those entrepreneurs?

Flag Reply +2 rate up
2 replies
mgt0331 clwgeorgetownlaw August 19 2014 at 10:57 AM

We do, they are all being killed by cops. Thank God.

Flag Reply 0 rate up
Gary H Mayer clwgeorgetownlaw August 19 2014 at 2:43 PM

Those kids are prison 'joy toys.'

Flag Reply 0 rate up
yardomd2 August 19 2014 at 10:45 AM

Takes time to create wealth. He may loose all by speculating.

Flag Reply +2 rate up
1 reply
Karl yardomd2 August 19 2014 at 10:24 PM

lose - lose
tight - loose
win - lose

Flag Reply 0 rate up
hey dick head August 19 2014 at 8:47 AM

I don't see how this is news worthy... nothing special here that doesn't happen all the time

Flag Reply +1 rate up
1 reply
Karl hey dick head August 19 2014 at 10:25 PM

how long have you been a *********.

Flag Reply 0 rate up
jcaffarella August 19 2014 at 12:20 PM

Good puff piece for Bitcoin, but I'm not ready to part with cold hard cash.

Flag Reply +1 rate up
Patricia,,,,, August 19 2014 at 12:02 PM

To bad he didn't have better aspirations of doing something good for the world...Instead all he cares about is making money...Typical of youth today and sad...His parents should be ashamed

Flag Reply +1 rate up
4 replies
LewTag August 19 2014 at 11:20 AM

This kind of talent cannot be made in school...it is the gift of God...just like the opposites of homeless drug addicted teens also are gifts of God....the law of opposittes in theofatalism....ger it??...I did not think so...try anyway....google theofatalism for details...

Flag Reply +1 rate up
1 reply
iconkestrell LewTag August 19 2014 at 7:33 PM

It's called good parenting, God has nothing to do with it or anything else for that matter. Still believe in Santa Claus too?

Flag Reply 0 rate up
oujoou August 19 2014 at 11:05 AM

Everyone who plays mmorpgs like World of Warcraft or Tera Online . .. at a high level . .. knows that virtual currency is a lot more fun than REAL. I would argue that 10,000 gold in Warcraft has a lot more intrinsic 'value' than the same amount in bit coin. A lot of good gamers could do what this boring average kid did. But when do you find the time . .. when it's just too much fun battling the Horde in pvp. :)

Flag Reply +1 rate up
bobgaul120 August 19 2014 at 1:17 PM

If hilliary clinton could do it, why can't he???

Flag Reply +1 rate up
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