Ben Sax – Mustangs Ahead
(LAKEWOOD RANCH, FL)- Former LRHS student Kyle Taylor now runs “The Penny Hoarder.” a $35 million business.
Taylor said he doesn’t think about the success of his company.
“I can’t say I spend a lot of time thinking about ‘The Penny Hoarder’’s success. I am always thinking about how my team and I can improve the brand and ensure a quality reader experience,” said Taylor. “I do find my work incredibly rewarding. I’m inspired when I hear from a reader who tells us how ‘The Penny Hoarder’ has made a difference in their life. I’m equally inspired by my team. Their creativity and passion for the brand makes it fun to come to the office every day. More than anything, it is just humbling to know The Penny Hoarder is making an impact.”
Taylor graduated LRHS in 2004 and then went to the University of South Florida but dropped out after a few months.
While he was living in St. Petersburg, he racked up $30,000 in student loans and $20,000 of credit card debt. He also didn’t have a degree.
He then started writing blogs on BlogSpot. That is when everything changed.
As he was writing his blogs and putting them online, people started to read them. Taylor found out about Google Ad Sense, which pays to put their ads on blogs.
From the small amount of people who were reading Taylor’s blogs, he made $0.14 his first week. He continued to write blogs and it eventually paid off.
Taylor started to get more people reading his blogs and his audience attracted advertisers that would pay him $75-$100 to blog about their products.
He then founded “The Penny Hoarder.”
It’s an online site that produces stories about ways to save money. Other things on “The Penny Hoarder” include ways to get things for free, discounts and food deals.
The Penny Hoarder was the third fastest growing company in Florida in 2016. It is now worth $35 million and continues to grow every day.
While “The Penny Hoarder” is successful, Taylor had early challenges he had to overcome.
“One of the challenges I had early on was finding the courage to hire. I was absolutely terrified to have full-time employees. I was a complete introvert, and I’d been running The Penny Hoarder out of my house for four years. The idea of getting dressed every day, going to an office and working side-by-side with someone other than my dog was out of my comfort zone. I now feel fortunate to have a team of over a hundred, but it did take time to get comfortable with being a CEO. It’s not something you learn overnight,” he said.
An average of 12-17 million people read The Penny Hoarder every month.