Young millionaire: Alex Tew

Video: http://www.cbsnews.com/video/watch/?id=1203405n%3fsource=search_video

                                        

Alex Tew, a 21-year-old student from Cricklade in Wiltshire, England, conceived The Million Dollar Homepage in August 2005.  He was about to begin a three-year Business Management course at the University of Nottingham, and was concerned that he would be left with a student loan that could take years to repay.  As a money-raising idea, Tew decided to sell a million pixels on a website for $1 each; purchasers would add their own image, logo or advertisement, and have the option of including a hyperlink to their website. Pixels were sold for US dollars rather than UK pounds; the US has a larger online population than the UK, and Tew believed more people would relate to the concept if the pixels were sold in US currency. In 2005, the pound was strong against the dollar: £1 was worth approximately $1.80, and that cost per pixel may have been too expensive for many potential buyers. Tew’s setup costs were €50, which paid for the registration of the domain name and a basic web-hosting package. The website, hosted by Sitelutions, went live on 26 August 2005.

The homepage featured a Web banner with the site’s name and a pixel counter displaying the number of pixels sold, a navigation bar containing nine small links to the site’s internal web pages, and an empty square grid of 1,000,000 pixels divided into 10,000 100-pixel blocks. Tew promised customers that the site would remain online for five years – that is, until at least 26 August 2010.

More article: http://www.moneyweek.com/news-and-charts/profile-alex-tew-founder-of-millondollarhomepagecom.aspx

2. http://www.ft.com/cms/s/2/8c31b4e8-a3a7-11da-83cc-0000779e2340.html