Peter Thiel’s 20 Under 20 fellowship, which pays teenage entrepreneurs $100,000 to drop out of school and pursue startups, just scored its first exit from the 2011 class.
British founder James Proud has sold GigLocator, a service that allows users to find tickets to shows based on their interests. It is being acquired by Brooklyn Bowl, a music venue located in the Williamsburg area.
Even though Proud did not disclose the selling price, he did tell Tech Crunch he was satisfied with the end result.
“I’m very happy with it. The Thiel fellowship has enabled me to sustain myself for the past year and this will allow me to sustain myself for awhile,” he said.