Last year Inc. 5000 named the Penny
Hoarder the #1 fastest-growing
private media company in the U.S.
for the second consecutive year—and
#25 on the list of fastest-growing
private companies in the U.S. It’s a
rapid rise to success for a company
that started as a blog that was part
diary, part accountability, says Taylor.
Seven years ago, Taylor started
posting online about his personal
experience trying to overcome
$50,000 in college loan and credit
card debt. “I had hit rock bottom
and was quite ashamed,” says
Taylor. “I needed to fi gure out why
I kept getting myself back into that
situation. So I started writing about
how much debt I had paid off that
week and what interesting things I
was doing to make extra money.”
Within a short time, readers
were responding and offering
encouragement. As he developed a
following, Taylor started thinking
about how he could turn what was
a hobby into a business. The fi rst
step, he says, was to move from the
tiny town in Maine where he had
been living. “It’s beautiful, but not
a great place to recruit employees
when there’s seven feet of snow in
the winter.”
He moved south to sunny St.
Petersburg. The blog evolved into
The Penny Hoarder, a website
offering advice on how to earn and
save money. Every month, some
16 million readers click on the site
to read posts like “32 Legitimate
Ways to Make Money at Home,”
and “How to Simplify Your Life
and Manage Your Money Like a
Minimalist.” We’re teaching people
about fi nance through storytelling,”
says Taylor.
St. Petersburg turned out to be a great
place to run a business, says Taylor.
“It’s got all of the amenities of a big
city and a major airport is close by.
On the personal side, I love the small
town feeling knowing that every time
I go out to eat I’ll run into friends
and colleagues. I can also be at a nice
museum by the waterfront and three
minutes later be a cool brewery in the
Warehouse Arts District.”
That business culture is just as
unique, says Taylor. “St. Pete is an
Kyle Taylor, the 31-year-old founder & CEO
of The Penny Hoarder represents the rising
tide of young, creative entrepreneurs who
call St. Petersburg home.
extremely creative town and the
applicant pool is amazing. Within
the tech startup community, there
is tremendous support – even when
we’re competing for the same talent.
We’re all buddies. There’s a genuine
willingness to see each other
succeed. I’m not sure that could
happen anywhere else.”
Last year, Taylor moved the
company’s headquarters to new
digs, a 23,000-square-foot offi ce
on the top fl oor of a downtown
building that also houses the Tampa
Bay Times newspaper. He currently
has 82 employees and expects to
increase the number to 250 by 2020.
What’s next? Looking forward,
Taylor sees both challenges and
opportunities. “We plan to offer
a whole lot more money-saving
advise and we’re looking for new
opportunities and new platforms
to continue to reaching out and
interacting with readers,” he says.
Other cities have expressed interest
in The Penny Hoarder, but Taylor
says St. Pete is his home. “It’s
also easy to recruit here. We bring
candidates here one time and they
fall in love with the city.”
The Penny Hoarder
xecutive team
STPETE.COM/BURGLIFE 17