Sunday, 15 May 2016

Yong Entrepreneur Rejects £20m Offer

A 14-year-old boy who came up with the idea of a first aid kit dispensing vending machine says he has turned down a substantial buyout offer. Taylor Rosenthal, from Alabama, rejected a $30 million (£20 million) offer from a "large national healthcare company" to sell his idea. He has already raised $100,000 (£69,000) in angel investments and plans to sell the machines for $5,500 (£3,830) each. He also said he is open to advertising on the machines. His startup, RecMed, will sell vending machines which dispense prepackaged first aid kits for dealing with cuts, blisters and sun burns. Taylor hopes to start delivering the machines to amusement parks, beaches and stadiums over the summer. Six Flags theme park has already put in an order for 100 machines.