Student-led Zinch a success story

Zinch Inc., a BYU-student founded website that connects high school students with universities and possible scholarships, was acquired by Chegg Inc. The sale is another sign of student-led businesses turning successful.

Brad Hagen, Mick Hagen and Sid Krommenhoek founded the company in 2007. Brad Hagen and Krommenhoek had helped an inner-city Detroit high school student get into college. Brad's brother Mick had also used unconventional means, including a website profile to get into Princeton. Their different experiences led the trio to create Zinch. Students can use the site to show colleges and universities their skills and lifestyle, making them "more than just a test score."

The company received $1 million in initial angel investments from people like Josh James, former CEO of Omniture, and Mike Leventhal, a venture capitalist from Park City. They later received $4 million in 2009 from Chicago-based New World Ventures.

Brad Hagen spoke about his experience.

How did you juggle school and Zinch?

"We always say, we dropped our education so millions more could get theirs. I'm only a couple of classes away [from graduating] and I try to do as much as I can. The idea really was there was a bigger concept here and a bigger thing that we could provide for people.

When you're in class and you have a business that you are growing and starting, all of a sudden everything you are learning is more real. It's like, 'OK, I see how this is applicable to what I'm doing right now.' My major was communications, advertising emphasis, and almost every one of my classes was so right on with what I was using. I would get out of a class and call up the guys and say 'Hey, I just learned this. I think we should do this.'"

What is your role now?

"My role is basically nothing right now. I've completely stepped back. I was excited about making all of this happen, but really trying to make sure I wasn't involved with it moving forward. For me, I'm really thrilled about early stage stuff. I love the start. I love the challenge from the beginning when it's just an idea. But for me, I don't enjoy that part as much, and that's why it was great to hire Anne (Dwane) as our CEO.

I want to get back into the scene. I'm always working with different students at BYU and helping any way I can whether it's consulting or advising."

Anything planned for the future?

"I am interested in doing it again. It's about being patient and making sure the right ideas come through. Ideas aren't short right now. It's just a matter of making sure you choose the right thing and dedicate yourself to it."

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