We Built This Business

EP17 - How I Changed The Internet Forever – Ajaz Ahmed

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In this episode of We Built This Business, we talk with Ajaz Ahmed, the founder of FreeServe. 

Ajaz was the founder of FreeServe, which offered free internet access in 1998. FreeServe went from nothing to it's highest valuation of £9 billion in just over two years. With over 2.5 million active users, it was sold for 1.6 billion pounds in the year 2001.

In this episode, Ajaz shares his incredible journey of building and exiting FreeServe and discusses what he has been up to since the sale. 


HIGHLIGHTS 

  1. Ajaz’s Early Career and Inspiration: Ajaz shares his humble beginnings, failing all his exams, and starting his career at Dixons. He was inspired by a Hovis bread advertisement that motivated him to achieve something significant in life. 
  2. Rise of FreeServe: Ajaz discusses the inception of FreeServe, the challenges of getting internet access in the late 90s, and the innovative strategy of distributing FreeServe CDs through Dixons stores, leading to rapid customer acquisition without high costs. 
  3. Business Model and Success: He explains how FreeServe made money despite offering free internet access, leveraging revenue sharing from phone calls and creating a profitable portal through which users accessed the internet. 
  4. Challenges and Lessons Learned: Ajaz talks about the challenges faced during the dot-com boom and bust, and the lessons he learned about the value of shares, the importance of a good business idea, and understanding customer acquisition costs. 
  5. Advice for Entrepreneurs: Ajaz provides insights and advice for new entrepreneurs, emphasizing the importance of having a genuinely good idea, the significance of customer acquisition, and the use of psychology in branding and retail. 

    6. PODCAST INTRODUCTION 

    Daniel Osullivan invites business owners and industry experts onto the We Built This Business Podcast to discuss how they have built their business. 

    We discuss how they started, their business challenges, successes, failures and everything in between. 

    Running a business is hard work so why not learn from business owners who are currently building or who have built a business. 

     

    VALUABLE RESOURCES 

    Guest Website - https://www.linkedin.com/in/ajazahmed1/ 

    Host Website – https://beacons.ai/wbtb 

    WBTB Podcast Website - https://www.webuiltthisbusiness.co.uk

     

    EPISODES TO CHECK OUT NEXT 

    Episode 4 - How I Built a £6 Million Revenue Print and Promotional Business by The Age of 24 - Taylor Tassie 

    Episode 5 - How I Built a Global Tech Events Business and Thrived in the Pandemic - Johnny Edser 

    Episode 6 - How I Built a Digital Marketing Business and How I Exited - Alex Minchin 

     

    ABOUT THE HOST 

    Daniel Osullivan is the CEO of The Experience Specialists Group we have brands in the events, entertainment and media industries including Red Cactus Events, Team Building Experiences, Shizzoo.co, Football Zorbing UK, Nel Events and X Event Solutions. 

     

    CONNECT & CONTACT 

    Daniel Osullivan 

    Daniel Osullivan Linkedin Page 

    Email: [email protected] 

     

    We Built This Business 

    Podcast Website - https://beacons.ai/wbtb 

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    Donation: Every week that we release an episode of We Built This Business we give £10 to our Charity the British Heart Foundation - https://www.bhf.org.uk/ (Started 21.05.2024 we hope to donate £520 a year)

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    We Built This BusinessBy Daniel Osullivan