Muslim entrepreneur sells Webs.com for $117.5 million
January 21, 201812
Haroon, a 35-year-old Harvard law school graduate turned entrepreneur who sold his first company for $117.5 million dollars, is definitely on his way to achieving his goal!
After graduating from the University of Maryland with a degree in economics in 2001, Haroon and his brothers started a company, Freewebs.com, a platform to let people build their own website.
But after graduating from Harvard with a JD in 2005, Haroon had a decision to make “I had a choice between joining a law firm or doing business, so we decided to go all out in the business. I turned down that offer and didn’t take the bar exam. I decided that I’d rather be an entrepreneur than a lawyer,” he adds.
Along with his older brother, who quit his job at the National Institute of Health, and help from his younger one who was still in high school, they launched the company full time.A year later, they had raised $12 million dollars from two venture capital firms and a few Silicon Valley angel investors. By 2011, Freewebs, now called Webs.com, was doing extremely well and was acquired by Vistaprint and became their digital arm.
So what’s Haroon’s message to budding entrepreneurs? “Most businesses fail because they never get their first customer. A business isn’t really a business until you have a customer that is paying you. At the end of the day, a business and a product is a promise. And a promise is a very powerful statement.”
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