Nineteen year old Patrick Collison and his brother, 17-year old John Collison, both from Castletroy, became millionaires last Thursday when they earned over €3m through the sale of an internet company they formed a year ago.

The company, which manages eBay accounts for high-level users, received backing from a number of private investors in Silicon Valley including former executives of Google, Chris Sacca and Paul Buchheit.

“I wanted to go to America but I had to complete my Leaving Certificate. I wanted to do the course in one year, but the Department of Education said I couldn’t do it, so I did the A-Level system instead. I got all As. I then applied to three universities in America and got the one I wanted,” said Patrick, who won the BT Young Scientist Competition in 2005, after he designed a new computer language called Croma.

However the two brothers had to overcome another serious hurdle when they were refused funding in Ireland to follow their dream of running their own company.

Funding was later secured when Patrick relocated to California deferring college after his first day, which was all part of the teenagers clever plan.

Earlier this year, Canadian firm, Live Current Media, offered the Limerick brothers just over €3m for the company, and the deal was finalised last week.

Patrick is now expected to travel to Vancouver in May to take up a position as director of engineering with the new owners of Auctmatic.

John meanwhile, is expected to sit his Leaving Cert exams at Castletroy College in June, but plans to spend the summer working for the company as well.

It’s believed the two brothers will now reinvest their newfound fortunes into their next venture, which they are understood to be following with even greater gusto then their former virgin company.

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