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Irish teens become web millionaires

The Irish teens have sold their Auctomatic auction tool software to Live Current Media

Most 17-year-olds sitting their exams would be more worried about how many extra sheets they need for their English paper than selling a software company and becoming a millionaire.

But Irish teen John Collinson and his 19-year-old brother Patrick have confirmed the sale of their Auctomatic auction tool software to Canadian firm Live Current Media.

The brothers set up the company – which provides a web-based tool for managing inventory for heavy eBay users – in 2007, but were forced to go abroad to well-known Silicon Valley investment company Y Combinator to get funding.

Patrik, the older of the Collinson brothers, will now work with Live Current in Vancouver, whilst John will finish his exams back in Limerick.