By Deborah Skousen
Ranked sixth in the nation by Forbes Magazine as one of the most advantageous places to start a business, Provo is home to thousands of start-up companies. Prospering businesses like 1-800-Contacts, Property Solutions and Omniture were all launched in the Provo area.
For BYU graduate Michael Choi, Provo may once again be the preparatory grounds for entrepreneurial success. As founder and CEO of www.boomYEAH.com, Choi plans to launch his site for classified ads this upcoming summer.
'A lot of people I talk to say this could be the next Google or MSN,' Choi said. 'If we market this well, we will have a chance to occupy a huge section of the market.'
The site is set up so people can find classified ads on a national or local level. It is a hierarchy system that makes it easy for people to find exactly what they are looking for, he said.
'With other sites, it gets so big and confusing,' Choi said. 'Ours makes it very simple for the user.'
BoomYEAH is already open in eight states, but this number continues to go up everyday. California, New York, and Texas are only a few of the states where Choi''s business is beginning to grow.
BoomYEAH is free for anyone who posts an ad. Revenue will come from charging larger businesses that post larger ads or job listings, Choi said.
Twenty-five-year-old Choi is working alongside experts in the entrepreneurial field. Ryan Davies and Jeff Sivertsen, who recently sold their start-up company Found Inc. for $110 million, are members of his management team.
'With any start-up there is definitely risk involved, but conversely there is also a lot of energy, excitement and passion,' Davies said. 'Because we are filling a niche, I think it has great potential.'
David Bradford, former senior vice president of Novell, is one of the five members of Choi''s advisory board. He said he thinks BoomYEAH is more user friendly than other web directories.
'I am very impressed,' Bradford said. 'The whole idea of having yellow pages that is visual on the web is a new concept.'
Choi graduated from BYU in chemical engineering in 2004. He went on to receive a Masters degree from CalTech in the same field. Although he received an offer from Exxon Mobile after graduating, he turned it down to pursue business.
'I am hoping that if it becomes a successful business, I will put in a good word for not only BYU but also for the church' Choi said.