Fred Mwangaguhunga, founder and owner of the urban gossip site “Mediatakeout.com,” recently sat down with us to share his ongoing passion for business. Mwangaguhunga told us that he realized his purpose while pursuing an MBA and a law degree at Columbia University.
“More so than being a lawyer, more so than being an investment banker, I want to go out there and do business,” Mwangaguhunga told TheUrbanDaily’s Associate Editor Shamika B. Sanders during the NYC interview.
Although Mwangaguhunga landed a high-paying job on Wall Street after law school, his sights were set on owning a business. The determined young lawyer saved money for nearly five years in order to buy a laundry-service business.
“While everybody was going out flossing, balling out, I was taking every penny that I had and just saving it. As soon as I have enough money, I’m out of here,” he said with a grin.
Mwangaguhunga eventually sold the business for an undisclosed amount, and set his sights on a new target– blogs.
“I didn’t have enough money to retire, so I didn’t know what I wanted to do,” Mwangaguhunga explained, “We didn’t have a ton of money, so what we did was spend all of our money on advertising, on groups on websites called blogs.”
Mwangaguhunga soon noticed how quickly blogs were flourishing, and decided to try his hand in the burgeoning business.
“I kind of do this blog thing. I kind of like it. Let me just go with it, see what happens,” Mwangaguhunga said.
He paid a little less than $600 to start MediaTakeOut.com, according to BlackEnterprise.com. MediaTakeOut now boasts 14 million page views a day, and is a multi-million dollar business.
Mwangaguhunga can surely retire on the revenue MediaTakeOut brings in, but we don’t see him quitting anytime soon.