Harjeet Taggar is a young English entrepreneur and cousin of Kulveer Taggar another young entrepreneur, both Oxford graduates.
Harjeet together with Kulveer are famed for Auctomatic.com, an online tool that allows businesses to sell their products online with greater ease.
The idea came about after the development of Harjeet’s first venture boso.com which was an online marketplace aimed towards students. Once businesses started enquiring about them selling on boso.com, which was started while Harjeet studied at the prestigious Oxford University, the idea came for Auctomatic.
To let Auctomatic flourish they decided to re locate to Silicon Valley as the support they received from the community could help take Auctomatic to the next level.
This turned out to be a good decision as in May 2008, the free online service they provided, was sold to Live Current Media for $5million and overnight they became millionaires. The deal was that Auctomatic would still be 75% owned by Harjeet and the other founders, while they received $2million in cash and $3million in stocks for the newly established company.
Harjeet had quit his job to fully devote himself to Auctomatic and had racked up substantial debts so selling part of the business made sense.
In 2007 they received Y-Combinator funding and currently Harjeet is a part of the Y-Combinator team investing in start ups.
Harjeet actually studied Law at Oxford and graduated in 2006. He still manages to make time for an active life outside of business and lists some of his favourite things as football, poker, reading and martial arts.
In 2006 Harjeet was the subject of the Channel 4 documentary 'Tricky Business’. He also appeared on CNN as a guest and was named as FreshMinds 'Ones to Watch: Future Business Leaders’ in 2005.
Does Harjeet have any advice for budding entrepreneurs?
Yes, ‘Get a good tax adviser. The savings we made were about ten times the cost of hiring a specialist.’