16-year-old turned down €6 million for a website he built in his room

Development: The site will launch later this month
Development: The site will launch later this month

A schoolboy revealed that he turned down St£5 million pounds for a website that he developed in his bedroom.

Mohammed Ali, from Dewsbury, Yorkshire, is so confident that his price comparison website weneed1.com will be worth a lot more in the future that he turned down an offer from investors before Christmas.

He told Metro: ‘The offer was rejected in December, just before Christmas,’ the A-Level student from Dewsbury, Yorkshire, said.

‘We met the investors in London, they were a global data-driven company, and they didn’t realise I created all the technology involved.

‘The main reason we rejected the offer was because, if the technology and concept is worth millions already, just think how much it will be worth once people use it.’

The site, which will launch later this month, will analyse real-time data to compare insurance quotes rather than fixed prices normally shown.

What would you do with £5 million at 16 years of age anyway?

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