The dailymail.co.uk, ran an interesting rags to riches story about a about a 40 year old former kitchen sales businessman who had no business schooling started AO.com which just went public in London.
“John Roberts, 40, founder of online appliance retailer AO.com, set up the company after realizing that the long supply chain for ‘white goods’ such as dishwashers and fridges was adding needless costs.”
“This week AO.com smashed expectations for its stock market debut with a 33% rise that increased Mr Roberts’ worth by £113 million in less than nine hours of trading.”
“Mr Roberts banked £86 million by selling shares in the run-up to the listing still his remaining 28.6% increased in value by £113 million to £456 million by the end of the day.”
So Mr. Roberts is now worth over £550 Million which equates to $915 Million dollars.
“Mr. Roberts started the company 14 years ago when he was in charge of appliance sales for Moben Kitchens.”
AO.com has cornered 24% of the UK white goods market.
Anyone want to chat about how expensive domain names are now?