Developingeyes Entrepreneur of the week: Sam Altman

Well its another beautiful mournful monday for those of us who hate our jobs and would rather be doing anything else :-). Monday is the day I try to post a motivational success story by budding young entrepreneurs such as ourselves. Hopefully the story will help us to push forward and keep trying toward our goals of financial independence.

This week’s young entrepreneur is Sam Altman of Loopt. Loopt software gives location-based functionality to cell phones, which allows users to see where their friends are located on a map. Loopt is cleverly dubbed, “your social compass”.

The software does interesting stuff such as send text alerts when friends come in close proximity to each another. It can even tell you what locations your friends have tagged as favourite spots. The service is available on Boost Mobile and also on Sprint networks. Loopt seems to make its money from subscription. It’s FAQ states a subscription fee of $2.99 a month for unlimited “looping”

Sam Altman is 22 years old (possibly 23 by now) and is doing well for himself. He has a start up that is showing some very good potential and one that seems to be growing daily. If we all could be so lucky!

Check out these two videos about Sam and Loopt. In the first video Sam gives a brief demo of Loopt, and in the second video he answers some questions about beginning your own start up. Enjoy!

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