Teen Entrepreneur Taylor Rosenthal Seeks $50 Million Sale of RecMed

Taylor Rosenthal, the 14-year-old entrepreneur who made headlines in 2016 when he turned down a $30 million offer to purchase his vending machine company, RecMed, was looking to sell his business for a staggering $50 million. The ninth-grader from Opelika, Alabama, began RecMed last year with a patent for computerized vending machines that dispense first-aid products.

Although he did not sell any machines yet, Rosenthal was in talks with big amusement parks and sports stadiums to expand his business.

He sat down with CNBC at TechCrunch Disrupt in Brooklyn, where he discussed his hopes of closing a $50 million deal in the near future. RecMed  had a $100,000 increase from angel investors, and Rosenthal is confident that his business can expand a great deal.

Rosenthal’s decision to turn down last year’s $30 million offer was based on his plans to grow and develop the company further. “At the time, I didn’t feel the deal was right — I wanted to grow and develop the company from what it was, so I turned it down,” he said.

Investor and entrepreneur Kyle Sandler, founder of The Round House, the Alabama incubator in which Rosenthal launched his venture, confirmed RecMed is in negotiations with a home and healthcare products giant consumer products company on a potential deal. Rosenthal wrote his business plan in class while attending the Young Entrepreneurs Academy and began operating out of the incubator to bring his concept to fruition.

When asked what his business heroes are, Rosenthal named his favorite as Mark Cuban, Dallas Mavericks owner and “Shark Tank” judge. Cuban’s success in sports is something Rosenthal would prefer to replicate, and he wants to follow in his footsteps.

He planned to spend some of the money on earning a degree at Notre Dame University in business or medicine. He also had a fancier plan in mind – buying a Bentley, even though he doesn’t yet have a learner’s permit. “I would have someone drive me around,” he smiled, showing his business sense and flair for the dramatic.

Taylor Rosenthal is proving that he is a person to be reckoned with in the business world, and his story is one that inspires young entrepreneurs everywhere.