Net firm boss stole £30,000 from his mom’s bank card to arrange enterprise aged simply 17 – and is now value £150million and has pop bands play at his workplace Christmas events
- Andrew Michael, from Cheltenham, arrange web site enterprise for A-Stage mission
- Wanted fibre optic Web to develop, which in 1997 meant paying for excavations
- In a position to repay mom’s bank card invoice within the first month, and he or she forgave him
- Aged 39, has began two extra corporations and is amongst UK’s high internet entrepreneurs
Rory Tingle For Mailonline
Andrew Michael, from Cheltenham, (pictured on November 18, 2018) arrange a web site enterprise providing e mail and internet providers to corporations for an A-Stage mission in 1997
An online entrepreneur has revealed how he stole £30,000 from his mom’s bank card to create his first enterprise aged 17 – step one within the street to making a £150million fortune.
Andrew Michael, from Cheltenham, arrange a web site enterprise providing e mail and internet providers to corporations along with his pal for his or her A-level mission in 1997 – however wanted fibre optic broadband to broaden it.
Again then this required paying for excavations to put the cables, which Mr Michael did over the telephone with out his mom’s data – playing that his future takings could be sufficient to cowl the bank card invoice.
Fortunately it labored, and Mr Michael and his enterprise companion Alex Wilding had been quickly cashing in.
‘By the tip of the month we had sufficient shoppers and cash to pay for the web line and the promoting,’ Mr Michael informed the BBC’s The Boss.
He insists his mom forgave him – though it isn’t clear precisely when she discovered.
After leaving St Edward’s College in Charlton King’s, Cheltenham, Mr Michael determined to skip college to concentrate on rising Fasthosts. 5 years later it was listed because the second-fastest rising expertise agency within the nation.
Mr Michael paid £30,000 along with his mom’s bank card, however the gamble paid off and Fasthosts was quickly booming. He’s seen with Richard Branson (left) and posing with a helicopter
One other 9 years on, and aged 26, he bought it for a whopping £61.5m, pocketing £46m from his 75% share.
However he didn’t relaxation on his laurels, and in 2009 based a cloud storage firm referred to as Livedrive.
In 2014, he bought it for an undisclosed quantity, regarded as within the tens of hundreds of thousands.
Spurred on by his success, the entrepreneur commonly made the headlines for his lavish Christmas events, which reportedly noticed the likes of Sugarbabes, Ladies Aloud and The Darkness in attendance.
The self-confessed occasion animal additionally paid for Usher to sing at his girlfriend’s birthday.
Spurred on by his success, the entrepreneur commonly made the headlines for his lavish Christmas events, which reportedly noticed the likes of Ladies Aloud in attendance. They’re pictured in London on September 28, 2003
The self-confessed occasion animal additionally paid for Usher (seen at an LA gig on September 25 final 12 months) to sing at his girlfriend’s birthday
Mr Michael was born in Cyprus and raised in Cheltenham the place he nonetheless lives along with his spouse, Carolyne.
The entrepenuer credit his father for passing on his robust enterprise acumen.
‘My father came visiting from Cyprus, and was very a lot a small enterprise man,’ he says,’ he mentioned.
‘Like many Cypriots, he opened up fish and chip retailers and cafés, and so a few of my childhood was spent driving round these websites, amassing takings, and discussing enterprise concepts.’
Mr Michael’s newest enterprise is Bark.com, a platform for folks to e book native professionals corresponding to music academics and private trainers.
Mr Michael is now engaged on his new firm, Bark.com, a platform for folks to e book native professionals corresponding to music academics and private trainers. He is seen on the firm’s headquarters on November 28, 2018