Posted on 2018-03-13 15:40:23.000000
How Australia inspired this migrant entrepreneur to start his blog for $35 and sell it for $35 million
31-year-old Alborz Fallah came to Australia from Iran when he was nine years old.
Ten years ago, at the age of 21, he started a blog about cars from the spare bedroom of his parents’ home in Brisbane.
This blog over years grew into a website called Car Advice.
Fallah invested $35 to buy the domain. “I’ve always loved cars and always wanted to do something in the car space. I couldn’t believe a domain as good as caradvice.com.au still existed in 2006. So I registered the domain and got going. Six months later, I was joined by my co-founder Anthony Crawford,” he told smartcompany.com.au in 2015.
The website reviews cars on the market and gives honest and reliable advice to potential customers. “Our job is to connect the right customer to the right car,” Fallah said.
Newscorp reported that his $35 investment yield him one million per cent return when Channel Nine bought his website for $35 million.
Car Advice employs close to 40 staff and has an estimated turnover of $15 million a year, Daily Telegraph wrote.
Car Advice’s shareholders on Thursday accepted an offer from Nine Digital.
Source : Sbs Australia
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