10K80 by Joshua Eferighe July 28, 2018
As far as trends go, I think it’s safe to say that the influx of startups and the number of young adults embarking on entrepreneurial ambitions is one of the most constructive to date.
With venture capital investment in startups surging to its highest level ever — $148 billion last year alone — there is no question: this is the most conducive market entrepreneurial companies have seen for growth for years.
One of the people who’ve taken notice is Reddit co-founder, Alex Ohanian, and he’s currently recruiting aspiring entrepreneurs to create the next big thing and he intends on taking the winners under his wing from start to finish.
“I’m looking for three bold pioneers who are going to send me the best pitch they go. So, whether you’re in your 20’s, 30’s or 80’s, I want to see what you got.”
The concept is similar to hit ABC show, Sharktank, where everyday individuals and small-time business owners bring pitches and ideas to established moguls in hopes of finding investors. Except, this will be more tech-centric.
The winners will be flown out to his venture capital firm Initialized Capital, which is located in Silicon Valley. He tells Fox Business,
“[They] will actually do office hours for me. And I will give them advice, feedback, and guides on how to build their business.”
When Ohanian and his roommate started Reddit in the comfort of their college dorm room he had no idea it was going to eventually become the third most visited in the world and worth $1.8 billion.
After selling the company for an undisclosed amount just 16 months after it’s inception, Alex now has a wealth of experience for upcoming business leaders who will eventually be in the same shoes.
“I certainly wouldn’t begrudge them for taking that. And I certainly don’t regret it because it opened up everything. I mean I’m very grateful for the life I have today and all that. And, in many ways from that decision and I got a second chance,” he says.
Although he and co-founder Steve Huffman returned to Reddit in 2015 and offered equity, this past February he took a step back again, this time to focus solely on investing.
“Now, I get to take the perspective of creating a one billion dollar company and bring it to founders who I hope will create dozens of billion-dollar companies and I get to advise them and I get to support them in ways that I wish I had when I was starting out, ” he told Fox Business.
Alex has yet to release details on how to submit your ideas, but this is a sure way to energize more minds to think about making a life for themselves as opposed to entering corporate America.