Turning down big money is the new black
Mark Zuckerberg is gaining a following among entrepreneurs. BusinessWeek writes a profile of J-Squared Media — two friends who wrote the Sticky Notes Facebook app on a whim. Now they're making $45,000 a month in ad revenue and turned down a $3 million buyout offer because under the terms of the deal, they would have been stuck at the purchasing company — unacceptable for the upwardly mobile entrepreneur.
Instead, the pair are looking for venture capital to hire some more programmers and are using their existing successful apps to help launch new ones. They'd better hope that Facebook doesn't crush their dreams and copy their apps, as it has with some other app developers. They — along with competitor Graffiti — might wish they'd taken the money and run when they had the chance.