Mitchell Harper (Debut) Eddie Machaalani (Debut)

Published 27 September 2012 04:59, Updated 27 September 2012 05:18

+font -font print

DEBUT

MITCHELL HARPER

EDDIE MACHAALANI

$110 million

LAST YEAR: N/A

MITCHELL HARPER, 30

EDDIE MACHAALANI, 33

TECHNOLOGY

SYDNEY

Mitchell Harper, pictured right, and Eddie Machaalani, left, sold almost 10 per cent of their software company Bigcommerce to Boston-based General Catalyst Partners for $US15 million last year. In early September, General Catalyst, in association with US venture capitalist Mike Maples, outlaid a further $US20 million for more equity. Harper and Machaalani met in an internet chat room in 2003 and started their first company a year later. They spent up to 18 hours a day writing code until they had their first website, Interspire. Within a few months they had covered their costs and have been profitable since. Interspire provided software to help people sell goods online. Bigcommerce started in 2009 and grew out of this business. Harper and Machaalani are cautious; taking 18 months to choose private equity partners and avoiding Silicon Valley to set up a US base in Austin, Texas.

BACK TO THE YOUNG RICH LIST

Comments