Local students turn Idea into business worth millions
Jeff Nobbs, Noah Auerhahn created Extrabux.com
Last Updated: 282 days ago
SAN DIEGO - Two young San Diegans have turned a college project into a business that is worth millions.
Jeff Nobbs and Noah Auerhahn, who are both 23 years old, are the founders of Extrabux.com. Extrabux is an online search engine that allows shoppers to find the best price on any product, find exclusive coupons for those products and get cash back from more than 1,600 online retailers.
"Jeff has the CEO desk," said Auerhahn. "We are business partners, but of course I look like his secretary."
The two work at an unassuming-looking office in Pacific Beach that was not chosen for its charm.
"This was actually Wikipedia's old office," said Nobbs.
The complete tour of the Extrabux world headquarters, as Nobbs and Auerhahn fondly call it, is short. The conference room is connected to web development, which is connected to the break room. Although their workspace is small, big things are happening there.
Nobbs and Auerhahn met as freshmen at USC. When they were juniors, they came up with a business plan for a new website and entered a school contest. They won the contest and beat out not only the undergraduates but also the graduate students.
When asked how much of the $25,000 prize money was used to party, Nobbs answered, "Believe it or not, it was actually all used to go back in the company... The company is one big party. We're having a great time."
However, the two said the Extrabux headquarters is no fraternity house. For Nobbs and Auerhahn, a 12-hour work day is a short day when the website is serving more than 50,000 users and counting.
Auerhahn said the company employs a total of seven people. The small number keeps operating costs down and makes it easy to organize company snowboarding trips to Mammoth. Running a company that's worth several million dollars and quickly growing requires a way to blow off steam.
Although he and Auerhahn were only in their twenties, Nobbs had his advice to offer: "I think the key to entrepreneurship is to not be afraid to just dive in If it's an idea that's good enough, just go with it and see where it takes you."
Nobbs and Auerhahn have entertained offers for Extrabux, but said they are not ready to sell. In the meantime, the two entrepreneurs said they are constantly working on the next big idea.
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