Speaking to a nearly full Huntsman lecture hall, Rich Riley told students how he became vice president of Yahoo! Small Business just a few years after graduating from the Wharton School.
"I had an idea that turned out to be a life changer," Riley said.
After graduating from Penn in 1996, Riley went to work at an investment banking firm, where he developed an Internet-based toolbar component with two partners. He refined the idea and integrated it into a browser.
Riley spoke to a number of Silicon Valley, Calif., Internet companies before selling the idea to Yahoo! for $10 million.
Yahoo! was impressed with Riley's salesmanship, according to the alumnus.
The managers of Yahoo! could not believe he convinced them to pay that much for his service, Riley recalled. Yahoo! promptly hired Riley so the company could benefit from his entrepreneurial skills.
The Musser-Schoemaker Committee brought Riley to campus as part of its Leadership Lecture Series.
"I think he's important to hear, as someone who is young but also very advanced in his career," Musser-Schoemaker Committee member and Wharton junior Chenkay Li said.
Riley spoke briefly about his time at Wharton, saying that he "worked very hard" for his grades.
He offered several suggestions on how students can rapidly advance their careers.
"Create value for [a] company," he said. He also encouraged employment-seeking students to pick companies that seem to be rapidly growing.
Riley said that investment banking is a good place for young entrepreneurs to start their careers.
"You're working with the smartest, hardest-working people in the business," he said.
After his work on Wall Street, Riley joked, he was surprised to find that Yahoo! employees did not have to work on weekends.
Riley now works with the Yahoo! Small Business division. His department sells Web sites and domain names to small businesses.
Riley answered student questions regarding the Internet and small businesses.
"The landscape can change so fast," Riley said, explaining why the Internet market is unique. "It's inexpensive to change things."
In Riley's business, he can try new marketing images without drastic risks.
"He offered some very powerful insights into the small business," Wharton MBA student Anuj Kapur said.
Riley says that all small businesses should have an online presence in today's marketplace.
"I thought it was interesting that their focus is still on getting more businesses online," Wharton MBA student Vele Samak said.
