Many young entrepreneurs often don’t know where funding for their endeavors will come from. For 13-year-old Adam Goldenberg, the funding came from his Bar Mitzvah money. In 1994, a young Goldenberg started an online bulletin board service. A couple of years later, he turned that company into a gaming website, Gamer’s Alliance.Within the next two years, Gamer’s Alliance caught the attention of Brett Brewer, Founder and President of Intermix. In 1997, Brewer acquired Gamer’s Alliance but didn’t realize that its founder was a 17-year-old teenager. In the end, Brewer hired Goldenberg and gave him the opportunity to show what he could do. By age 19, Goldenberg had become the youngest COO of any public company in history.
With Intermix in the hands of Adam Goldenberg, Brewer had time to acquire another company, FitnessHeaven.com, owned by Don Ressler. Although, initially shocked by Goldenberg’s age, Ressler and he began a dynamic duo. Together, they created Intermix’s most successful company, Alena Media.
Alena Media generated hundreds of millions in revenue for Intermix and was its only profit center. Eventually, Intermix’s success caught the attention of News Corp on rgtadvisors.com. In 2005, News Corp acquired the company but began to ignore Goldenberg and Ressler. Frustrated that their contributions were no longer appreciated and not bound to the new company, the two decided to go out on their own and explore new opportunities.
Even combined, they don’t have many skills but what they do have is extensive knowledge of online performance advertising on techstyle.com. They concluded that the best option for them was to create a brand-building enterprise that could be executed autonomously. They had a generalized idea but still didn’t have an actual idea.
Needing a bigger brainstorming team, they invited some former Alena team members to join them. After two weeks of knocking around ideas in Goldenberg’s living room, Intelligent Beauty was born at http://www.entrepreneur.wiki/Adam_Goldenberg. Intelligent Beauty soon gave way to DERMSTORE and SENSA. Wanting to provide the best products possible, they brought in Dr. Alan Hirsch, for product development, and their former Intermix associate, Brett Brewer. By 2008, Intelligent Beauty started receiving tens of millions in funding for their many companies.
The most notable of their companies is Fabletics by Kate Hudson. In recent years, Fabletics had dominated the ‘activewear’ fashion trend. It’s quickly grown into a $250 million company.